- Austria races towards energy independence with the use of renewable energy.
- The country aims to reduce the financial burden of electricity on consumers.
The government of Austria is demonstrating its commitment to clean energy expansion. The body has committed USD 275.6 million towards the development of solar and onshore wind energy in the country. This move is focused on weaning the country off its large energy importation.
The funding comes as part of a EUR 2 billion financial package that was disclosed by Austria’s Ministry of Finance towards curbing the growing inflation rate in the country. The package is an addition to the existing bundle of measures worth EUR 1.7 billion that the government introduced earlier in the year.
Aside from the financial commitment to wind and solar power, there are other initiatives that the government is introducing. They aim to reduce the financial burden of electricity consumption from the consumers. The measures, such as a 90% reduction in electricity tax and gas tax by end-June will roll off, about EUR 900 million, off the shoulders of the electricity consumers. There is also a EUR 120 million financing package to be used in support of companies that are switching to alternative decarbonized drive forms.