Italy's Green Transition: Streamlining Solar, Exploring Hydropower and Nuclear
Italy is taking significant steps towards its green transition, aiming to streamline permitting processes and manage energy costs effectively. However, challenges persist, particularly for solar projects, which face higher costs due to grid congestion and approval processes. The country is also exploring new energy sources, including hydropower and potentially nuclear power, to bolster energy security and meet climate resilience goals.
Italy's solar projects currently face costs approximately 20% higher than in France, Germany, and Spain. To tackle this, the government is working to streamline permitting processes and provide investment certainty. Additionally, Italy is looking to tap into its significant hydropower potential, with an estimated 13.6GW of hydropower storage capacity across 56 new sites.
In 2023, Italy took the first steps towards reversing its ban on nuclear power, which has been in place for nearly four decades. If Italy decides to lift the ban, key institutions such as the Italian government, the International Atomic Energy Agency (IAEA), the European Commission, energy regulators, leading energy research institutes, utility companies, environmental and safety agencies, and private sector partners could collaborate. These stakeholders would work together to deploy necessary green infrastructure and meet EU's 2030 decarbonisation targets.
Despite the potential challenges, Italy's green transition is poised to bring significant economic benefits. By integrating hydropower storage, advanced nuclear power, and carbon capture technologies, Italy could boost its economy by €190bn ($222.2bn) by 2050. However, timely deployment of these technologies is crucial to avoid falling short of EU's 2030 decarbonisation targets and to meet Italy's carbon emission reduction commitments.
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