With the Fit for 55 Package, the European Commission has published an ambitious set of measures: among these, the Emission Trading System (ETS) revision and the new Carbon Border Adjustment Mechanism (CBAM). EASE has prepared an analysis on what does the CBAM mean for the energy storage sector, as well as, revision of the EU ETS and its goals set for 2030.
While the former isn't disruptive of the previous situation, despite including new sectors as road transport, buildings, and maritime transport, as well as strengthening the aviation carbon market, the latter represents a novelty in global trade.
The new CBAM will include imports of electricity, iron, aluminium, steel, certain fertilisers, and cement: after an transitional phase between 2023 and 2025, it should be fully implemented for all imports from all countries not covered by the EU ETS; moreover, the general layout of the compliance procedure will follow that of the ETS.
The analysis provided in these reports highlights the most relevant sections of these legislative instruments, alongside a provisional assessment of the impact they will have on the storage sector.
