May 27, 2024 8:58 PM

EU clears law to increase domestic green tech production

European Union governments formally cleared on Monday a new law designed to ensure the bloc produces 40% of its solar panels, wind turbines, heat pumps and other clean tech equipment and to help European industry compete with U.S. and Chinese rivals. The Net Zero Industry Act (NZIA) will enter force next month or early July once it has been signed by the presidents of the European Parliament and the Council and is published in the EU's official journal. WHY IT'S IMPORTANT The act is a centrep...