Europe needs a carbon price on heating and cooling to become carbon neutral by 2050

Ursula Von der Leyen, the President of  the European Commission, is expected to announce at least 55% target for greenhouse gas reductions in the State of the Union speech on 16 September, 2020. Heating accounts for half of the EU’s energy consumption and 80% of the heating market is dominated by fossil fuels. The fossil market benefit from direct and indirect subsidies that lock out more efficient and renewable energy technologies.