A coalition of industries ranging from solar to geothermal and biomass has called on the incoming Austrian Presidency of the EU to support a target of “at least 35%” for renewable energies by 2030, saying it will provide a stable environment for investors. “Austria has shown great ambition as a leader in renewable energy,” the industry coalition said in a joint letter sent today (28 March) to Elisabeth Köstinger, Austria’s minister of sustainability and tourism. Austria takes over the EU presidency on 1 July.

“We believe that your presidency should be an opportunity to deliver on Europe’s energy transition,” reads the letter, obtained by EURACTIV.

Renewable energy costs have fallen sharply in recent years, leading the European Commission to update the cost-benefit analysis it presented in November 2016, when it tabled a revision of the EU’s Renewable Energy Directive.

Reaching the EU target of 27% renewables by 2030 would be €2.9 billion cheaper per year than under the previous analysis, the Commission argued, suggesting that a 30% target for 2030 would now be “affordable”.