The in-depth coverage of this story is on Money.it

The discussion around renewable energy and Italy's energy independence is back in the spotlight, following the issue with Russian gas, but so too is the topic of renewable energy as a safe-haven asset. Italy is heavily dependent on gas consumption, and the majority of this is imported from Russia first and foremost, and then from Algeria, Qatar, Azerbaijan and Libya.

Italy bets on renewables to meet its 2030 targets

Italy, however, is overall the third-largest producer of renewable energy installations in Europe, and part of the electricity generated comes from green sources. "Italy is primarily focusing on electrical renewable sources. In particular on photovoltaic and wind power in order to meet the binding targets of the National Integrated Energy and Climate Plan for 2030." So explains Alessandro Corsini, full professor of Energy and Environmental Systems at the Sapienza University of Rome, to Money.it.

"In terms of investment, the existing incentive system based on the so-called energy account is still active today for renewable sources other than photovoltaic, which is now deemed mature enough for grid parity," but this is not the only incentive, because "incentives of a different nature are instead linked to the introduction of renewable sources in the residential sector through the various forms of eco-bonus and the incentives dedicated to the formation of renewable energy communities — that is, aggregations of consumers, producers and prosumers capable of guaranteeing over 80 per cent self-consumption of community energy generation."

So is it possible to bet on renewable energy on a par with a safe-haven asset? "From a number of different perspectives this statement holds true: first and foremost, renewable energy is a safe-haven asset in the sense that it guarantees a decoupling between the satisfaction of an essential energy need and the corresponding environmental impact."