Israel approves 30% renewables goal for 2030

The Zeelim solar park. Image by: Belectric Solar & Battery GmbH (www.belectric.com).

October 26 (Renewables Now) - Israel’s Energy Ministry has given the thumbs up to a plan to lift the 2030 national renewables target from 17% to 30%, the government said on Sunday.

By 2030, the Western Asian nation will strive to make renewables cover 30% of its total electricity consumption, while an interim goal stipulates that percentage to be 20% by end-2025. The target may be updated once again by the end of 2024.

In order to achieve the objectives, Israel will need to triple its installed solar power capacity, Energy Minister Yuval Steinitz said in a social media post. In June, he presented a plan worth ILS 80 billion (USD 23.6bn/EUR 20bn) under which the country is set to reach 16 GW of installed solar power generating capacity by 2030. If implemented, the plan will enable more than 80% of Israel’s electricity to come from solar power during peak hours. 

The initiative will be funded through a slight increase in power tariffs, which the government estimates will be between 2% and 3%. It will eventually lead to a reduction of energy costs, the government said.

(ILS 1.0 = USD 0.296/EUR 0.250)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\