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The EU recovery plan must facilitate access to finance for solar projects

Brussels-based member-led association SolarPower Europe has expressed its strong support for President of the European Council Charles Michel’s proposal for the Recovery and Resilience Facility (RRF) to spearhead an “effective contribution to the green and digital transition”.

The COVID-19 pandemic has taken its toll on all European industries, solar included, impacting supply, demand and logistics. The European Commission’s Next Generation EU is a unique opportunity to leverage the 60 billion euros of annual investments needed to fully tap into the EU’s solar potential.

“It is essential that the Recovery and Resilience Facility is aligned with the objectives and values of the European Green Deal and Paris Agreement,” said Walburga Hemetsberger, CEO of SolarPower Europe. “We now have the opportunity to accelerate the EU’s energy transition and to ensure a green and just recovery.”

SolarPower Europe is pushing for a recovery plan that facilitates access to finance for solar PV projects in Europe – from manufacturing, to innovation, to installation. Better access to finance will enable the construction of solar farms, the massive installation of solar on rooftops across the European Union and importantly will support the scaling-up of local solar manufacturing projects.

“Choosing solar – through facilitating access to finance – will ensure vast economic, environmental and social benefits for all Europeans,” Mrs Hemetsberger continued. “As the lowest-cost, most versatile and job-intensive energy technology, solar is uniquely positioned to lead the sustainable energy transition in Europe and combat climate change.”

On top of contributing to the success of the European Green Deal, supporting solar will create new jobs, stimulate sustainable growth and increase both the EU’s industrial competitiveness and energy autonomy.

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