Renewable Expansion Act

The EAG act will set framework conditions: special market premiums and investment grants supporting clean technologies. A total of one billion euros will be invested annually in the expansion of renewables by 2030, via market premiums and investment grants.  Around EUR 500 million will be invested in Green Hydrogen and for industries willing to become CO2 neutral (such as steel production). The Renewable Energy Expansion Act (EAG) sets the framework conditions for a long-term, stable investment climate for the expansion of renewables. Key elements are investment grants for renewables as well as operating aid in the form of market premiums for renewable electricity fed into the public electricity grid. The reform thus supports the targets of covering 100 % of Austria's total electricity consumption (nationally balanced) from renewable energy sources by 2030 and achieving climate neutrality by 2040.

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