Europe’s energy crisis is boosting green hydrogen.

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What's coming up:

• Germany sets windfall tax at 90% for clean power generators.

• Meme - Using solar energy.

• Europe’s energy crisis is boosting green hydrogen.

• This Week's Quickest & Cleanest Bites.

Germany sets windfall tax at 90% for clean power generators.

The German government is planning to skim earnings above €130 a megawatt-hour for solar, wind, and nuclear, according to a draft law seen by Bloomberg News. Politicians are trying to reclaim some of the profits that companies like RWE AG are making from high power prices.

The windfall tax will be applied to electricity producers based on the fuel they use. Lignite plants will be taxed on earnings above €82 a megawatt hour and oil plants above €280. The measures will apply for 10 months, backdated to the start of September 2022, until the end of June 2023, and could be extended to the end of 2024.

Germany has set out a €54 billion package on November 22 that puts a cap on gas prices for companies and households from next year with more earmarked for electricity. The aid for bills will be partly financed by the windfall tax, from which the government expects to raise a double-digit billion-euro amount, according to officials.

The level proposed is lower than the European Commission’s suggested level of €180 a megawatt hour. Renewable generators in Germany have warned that such a levy will deter investment needed to help the nation wean itself off imported fossil fuels.

Meme of the week!

Europe’s energy crisis is boosting green hydrogen.

It’s becoming all too clear how Russia’s invasion of Ukraine caused natural gas prices to jump, leaving millions of Europeans struggling with sky-high energy bills and further pressuring governments to help out and support alternative sources of power.

Now 9 months into the war, there is a silver lining to the crisis when it comes to the continent’s energy future. The spike in gas prices has caused green hydrogen – made exclusively with renewable power – to suddenly appear much more affordable than it previously was, driving investment and interest in a sector that could help the bloc slash its carbon emissions.

Analysts and industry players say it’s welcome news, but we shouldn’t rejoice too much, either, as this shift largely means all types of energy are costly these days, and there’s still a lot Europe needs to do to build a competitive green hydrogen economy.

This Week's Quickest & Cleanest Bites.

• New research has suggested that plants can pass on climate adaptation to their offspring. The study published in the Trends in Plant Science journal found that 'memories' of how to survive in our changing world are handed down through something called epigenetics. Researchers hope the discovery will help scientists understand how plant intelligence is battling climate change. Link.

• Last week the UK government announced nearly €7 million of funding to insulate homes. Activists from the protest group Insulate Britain celebrated the pledge as a "win for everyday people in civil resistance". Last year the group blocked roads and motorways in an effort to get the government to fix the UK's leaky housing stock. Link.

• New technology developed in Northern Australia can extract harmful forever chemicals from rainwater. It uses sunlight and chemical processes to separate dangerous substances in the water which can then be skimmed off the surface. Link.