Israel to set renewables quotas, incentives under plan to cut GHG

Israel will define long-term renewables quotas and introduce incentives for green energy as part of a just-approved plan to cut greenhouse gas (GHG) emissions and increase energy efficiency.

The long-term plan, approved on April 10, includes grants, loan guarantees, and other measures to allow the country to meet renewable energy goals and to reduce GHG emissions by 26% on 2006 levels.

The renewable energy quotas will give investors the security they need and will allow for the expansion of the market. A newly formed team will work to remove barriers that challenge the cleantech industry in Israel. The plan also includes financial support for energy efficiency upgrades and green buildings, and possible measures to boost efficiency in transportation and reduce the use of coal.

The ministries of environment, energy, finance and economy lead the programme. They expect it to result in cumulative economic benefits of NIS 30 billion (USD 7.9bn/EUR 7bn). The plan is seen to boost competition, reduce risk for human health, contribute to a long-term increase in Israel's energy security and the development of Israel's Cleantech industry.

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