About Riga energy storage equipment government subsidies
Given the interest of residents in purchasing electricity-producing equipment, the Ministry of Climate and Energy (KEM) has expanded the support program and in the future residents will be able to get state aid for the purchase of electricity storage facilities as well, the Ministry said Friday.
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6 FAQs about [Riga energy storage equipment government subsidies]
What does EU state aid mean for Latvia?
The European Commission has approved, under EU State aid rules, a Latvian scheme to partially compensate energy-intensive users for charges paid to support the financing of renewable energy production. The scheme replaces a previous scheme that the Commission approved in May 2017 and that expired on 31 December 2020.
What is the EU's energy policy for Latvia?
The current EU policy dictates that Latvia must increase the share of renewable energy in its final energy consumption and Latvia has plans to reach 50 percent by 2030 according to the EU’s National Energy and Climate Action Plan 2030. Much of Latvia’s heat and electricity still comes from imported natural gas.
Is Latvia interested in wood biomass?
Over half of Latvia is covered by forest, so wood biomass presents excellent potential for further development. In addition to renewable energy projects, Latvia remains interested in pursuing a possible liquefied natural gas (LNG) terminal to enhance its energy supply source diversity.
How can Latvia reduce its reliance on foreign sources of energy?
The Latvian government is interested in diversifying supplies and in developing more local resources to reduce the country’s reliance on foreign sources of energy. To reach these targets, government agencies and entrepreneurs have discussed options to move beyond hydropower into wind and biomass power plants.
Will state aid be available for large-scale electricity storage systems?
In autumn 2024 two draft regulations were published regarding state aid for large-scale electricity storage systems (BESS), one from the Modernisation Fund (“MF ”) 1 - and the second under the National Recovery and Resilience Plan (“RRP ”) 2.
What are PLN 4 billion and RRP budgets?
These two subsidy schemes, now under legislative review, include PLN 4 billion (MF) and, respectively, €200 million (RRP) budgets to aid businesses investing in lithium-ion technology energy storage and grid infrastructure, strengthening the country’s energy system.