Waveplam

The agreement reached between the European Parliament, the French Presidency on behalf of the Council and the European Commission on the Res-e Directive represents a crucial step forward in the development of renewables.

The Res-e directive recognizes the relevance of local or regional small and medium-sized enterprises in seizing the opportunities for establishing economic growth through innovation and a sustainable competitive energy policy, with a strong focus on regional and local renewable energy.

Not only does the Res-e directive confirm the binding EU target of 20% renewable energy share by 2020, but also, for the first time, each member state has a legally binding renewables target along with a clear trajectory to follow. By June 2010 the member states will draw up National Action Plans detailing the way in which they will reach the targets. The European Commission will assess the National Action Plans and the Member states will report every 2 years on the progress made.

The directive will be reviewed in 2014. This will not jeopardize the targets of the Directive, nor will it affect national support schemes. Only the cooperation mechanisms might be adjusted, if necessary.

By providing a binding policy framework, and a secure investment context, the new RES-e Directive provides a solid ground for investors’ confidence, and for the development of wave energy technologies in Europe.

As a key principle, the 20 % overall renewables target will be broken down into legally binding national targets, priority access to the electric grid, the option of using flexibility mechanisms and the streamlining of administrative procedures.

Although the directive is not exempt of weaknesses, it has been a major achievement at the European level to reach such a comprehensive and farsighted agreement. An effective and swift implementation of the new legislation at national level is now needed. Each Member state will have flexibility to promote the renewable energies most suitable to their specific potential and priorities.

The Res-e directive is of enormous relevance for the wave energy sector as it includes a series of measures that will help tackle the non-technological barriers to wave energy :

- Administrative procedures: Sections of the Directive are devoted to streamlining the administrative procedures. Each Member state will have to ensure that the procedure for authorizing renewable energy projects is proportional, necessary and transparent. This should shorten implementation time significantly.

- Grid access: EU member states must ensure that transmission system operators and distribution system operators guarantee the transmission and distribution of renewable electricity and provide for either priority access or guaranteed access to the grid.

- EU support for financing renewable energy projects: in 2009 the European Commission will publish a plan on the optimization of using the EU structural funds, the framework programmes for energy, the European Investment Bank funds and other public finance institutions towards stimulating the development of renewable energies. It will stimulate better access to risk capital and approved coordination of Community and National funding and has a potential to favorably impact resources available for ocean energy.

- Renewable Energy Roadmap for the post-2020 period: the European Commission will publish, by 2018, a Renewable Energy Roadmap for the post2020 period. Thus ensuring that the stable regulatory framework continues after the expiration of the REs- e Directive.

The new Res- e directive is the instrument that will allow wave energy to play a central role in the European energy mix, and make a major contribution to the advancement of the sector. Therefore, the Directive represents, at the same time, both a unique occasion, and a tremendous responsibility for the wave energy key actors.