The Netherlands is set to double its green subsidies from €2 billion (1.8bn) to €4 billion (3.7bn), as part of the Sustainable Energy Production (SDE+) spring budget.
According to data and analytics company GlobalData, SDE+ could provide financial support to renewable energy producers and make targets more ‘feasible and affordable’.
The Dutch Climate Agreement has set a national reduction goal for 2030 that requires 49% lesser emissions than 1990 levels. The Supreme Court further ordered the Dutch government in 2019 to ensure a 25% cut in emissions by end of 2020.
Bhavana Sri Pullagura, Power Analyst at GlobalData, said: “There are a large number of renewable energy projects that can offer cost-effective contribution for further development and make the energy transition more sustainable.
“The 2020 SDE+ will be used to help projects that have a short implementation period and those projects which did not get funding in the previous tender. This is expected to give an extra boost to the development of renewable energy through the stimulation of both new and old projects for which the required permits were previously missing.”