The European Commission will encourage rationing and make solar panels mandatory in the move away from Russian energy FILE PHOTO: Solar panels installed on the roof of a building in Lille, France, September 9, 2013 © AFP / Philippe Huguen

European Commission President Ursula von der Leyen announced on Wednesday that the EU would raise its renewable energy targets and invest billions of euros in clean energy in a bid to break away from Russian oil and gas imports. Consumers will pay a price, however, with the EU’s plan including energy rationing and compulsory solar panels on homes.

Von der Leyen’s ‘REPowerEU’ plan would cut the EU’s reliance on Russian gas by 66% this year and eliminate it entirely by 2027, the bloc’s policy chief told reporters in Brussels.

Under the plan, the EU will increase its Energy Efficiency Target from 9% to 13%, and raise from 40% to 45% the amount of its power generated by renewables by 2030. At present, the EU sources 22% of its energy from renewables.

To achieve this, von der Leyen said that the EU would speed up the permitting procedure for renewable projects such as wind farms and would make €300 billion ($315 billion) available in grants and loans. Of this funding, 95% would be set aside for green energy, while 5% would be used to upgrade Europe’s gas and oil infrastructure to receive imports from sources other than Russia. (RT)