France has announced a $13.4 billion energy plan designed to reduce its dependence on atomic power from 75% to 50%. The nation plans on using home renovation and insulation as one avenue of saving energy - allowing home owners to deduct 30% of the cost of thermal insulation from their taxable income.
The government will incentivize the purchase of electric cars by offering to purchase old, diesel powered vehicles. France will also install 7 million electric vehicle charging stations, while owners of electric cars will get a 30% rebate on the cost of installing a charger at home.
"We have a nuclear fleet which was built in the 1960s, 70s, 80s. So we arrive at a time when these plants get close to 30 years of age," said President of the French Nuclear Safety Authority, Pierre-Franck Chevet.
"The ageing of these facilities is a new factor, even if a foreseeable one. Can we go over 40 years? We have no answer on that yet. We are expecting a full report from EDF which will bring us to take a decision in 2015."
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.