European Union approves Net Zero Industry Act (NZIA) to increase domestic green tech production to 40% by 2030, reducing dependence on China.
The European Union has approved a new law, the Net Zero Industry Act (NZIA), designed to increase domestic production of green technology, including solar panels, wind turbines, and heat pumps, to 40% by 2030. This move aims to reduce Europe's dependence on external countries for clean technology, particularly China, and help European industry compete with U.S. and Chinese rivals. The law is a key part of the EU's push to be a global leader in cutting greenhouse gas emissions and manufacturing the necessary technology.
May 27, 2024
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