Latest riga energy storage subsidy policy

What is Riga doing to save energy?

Thus, Riga plans to uphold the target of 15% energy savings and pursue energy saving measures, from switching off public lights when surpassing a certain price, reducing temperatures in buildings, and running educational campaigns to keep citizens aware and involved.

Why is Riga Energy Agency changing its energy budget?

To address this issue, it is proposed to shift responsibility for the energy budget to Riga Energy Agency, in conjunction with its Energy Management System. This change would also empower the agency to efficiently allocate any savings resulting from energy consumption reductions initiated by schools themselves.

Is Riga reducing energy consumption by 15%?

Last winter, in the face of the mounting energy crisis and in response to the European Commission’s call to action, the city of Riga committed to reducing energy consumption by 15%, in line with its Sustainable Energy and Climate Action Plan.

Will IEA continue cooperation with Latvia?

We look forward to continuing the IEA’s cooperation with Latvia as it takes significant steps to advance its energy transition.” The report finds that the creation of a new Ministry of Climate and Energy in January 2023 has been an important step towards meeting many of the country’s energy and climate goals.

Should energy storage operators compete for subsidy contracts?

In several countries, revised capacity markets now allow energy storage operators to compete for subsidy contracts on a more equal footing with power generators. Support from the European Battery Alliance and €1 billion in loans from the European Investment Bank in 2020 alone should help shore up investor confidence.

How does Riga contribute to the environment?

To ensure accountability and add economic value to their efforts, Riga established a regulation that pegs the worth of 1 euro to every ton of CO2 saved throughout the lifecycle of their projects. This approach reflects Riga's commitment to quantifying their environmental contributions in real economic terms.