France plans to invest 20 billion euros in energy transition

27/09/2017 13:14 Energy Efficiency

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The French government intends to make an investment of around 20 billion euros in energy transition, out of which 9 billion euros are aimed to improve energy efficiency, 7 billion for renewables, and 4 billion to accelerate the switch to cleaner vehicles.

The investments related to the environment sketched by the economist Jean Pisani-Ferry and presented by Prime Minister Edouarde Philippe on Monday, are part of the 57 billion-euro investment plan to run from 2018 to 2022.

 

According to Government’s declaration, about 20% of greenhouse gas emissions come from buildings, leading to the decision to plan 9 billion-euro thermal insulation programme, which in return will concentrate on government buildings and low-income housing. 



Furthermore, it added: “the number of badly insulated low-income housing and social housing will be divided by two, and a quarter of government buildings will be renovated in line with environmental norms”.

 

Around 75,000 dwellings per year, or 375,000 over the government’s five-year term, will be renovated backed by programme’s financing. The goal over the next five years is to invest approximately 7 billion euros for the growth of French renewable energies by 70 percent.

 

Investments will comprise research and innovation to deal with climate change and will hasten France’s transition to greater energy efficiency and low carbon. 

 

While the housing sector will benefit from efficiency investments, utilities might suffer from lower power demand. Nevertheless, the industry should also profit from more support for green energy.

 

To shift to less polluting vehicles, 4 billion euros would be invested. The transport industry is responsible for over 30% of greenhouse gas emissions.

 

More elements will concentrate on road and railway network, will increase local transport networks and assist low-income households in exchanging between old, polluting vehicles for newer and more ecologically friendly models.

 

The plan will aim the phasing out of 10 million old vehicles and a focus on petrol engine cars registered before 1997 or diesel vehicles registered before 2001.

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