The draft National Energy and Climate Plan lays out crucial objectives for the island of Malta. It aims for a 19% reduction in greenhouse gas emissions and a 13% share of renewable energy in final energy consumption by 2030. These objectives are in line with the EU’s long-term climate goals and Paris Agreement commitments. These efforts are paramount in Malta’s efforts to improve our European and global credibility. Almost half of the European Union’s (EU) 28 member states have already hit their 2020 renewable energy targets. In comparison, Malta’s share of renewables remains far below targets. Solar energy has proved to be one of the most viable means of reaching these goals.
The newly published plan suggests that solar output could reach a 260 megawatt peak by 2030, covering about 3.4 square kilometres. In comparison, 2020 goals planned for 160 megawatts and a 2.7 square-kilometre footprint. However, interest in renewables is being challenged by real estate investment due to perceived longer-term benefits. However there are clear monetary and ethical reasons for investing in renewables over property. Real estate prices are subject to fluctuation, but the sun won’t stop shining anytime soon. Investing in solar allows for both personal and societal prosperity. See how much you could be saving here: https://aqsmed.com/savings-calculator/
The plan also pushes for further discussion among developers and real estate agents. It emphasises the importance of providing incentives schemes for these groups, aided by attractive lending schemes from local banks. Furthermore, it also discusses a communal photovoltaic farm project at the site Il-Fiddien. This would allow people without access to a private roof to buy into the shift. The plan also includes an array of other important topics, namely energy security, energy efficiency and research, innovation and others.