Info
Info
News Article

EU Doubling Renewables By 2030 Positive For Economy

News

The European Union (EU) can increase the share of renewable energy in its energy mix to 34 per cent by 2030 "“ double the share in 2016 "“ with a net positive economic impact, finds a report by the International Renewable Energy Agency (IRENA), launched in Brussels.

Presenting the findings during a launch event, "˜Renewable Energy Prospects for the European Union' "“ developed at the request of the European Commission "“ IRENA's Director-General Mr. Adnan Z. Amin highlighted that achieving higher shares of renewable energy is possible with today's technology, and would trigger additional investments of around EUR 368 billion until 2030 "“ equal to an average annual contribution of 0.3 per cent of the GDP of the EU. The number of people employed in the sector across the EU "“ currently 1.2 million "“ would grow significantly under a revised strategy.

Raising the share of renewable energy would help reduce emissions by a further 15 per cent by 2030 "“ an amount equivalent to Italy's total emissions. These reductions would bring the EU in line with its goal to reduce emissions by 40 per cent compared to 1990 levels, and set it on a positive pathway towards longer-term decarbonisation. The increase would result in savings of between EUR 44 billion and EUR 113 billion per year by 2030, when accounting for savings related to the cost of energy, and avoided environmental and health costs.

"For decades now, through ambitious long-term targets and strong policy measures, Europe has been at the forefront of global renewable energy deployment," said IRENA Director-General Adnan Z. Amin. "With an ambitious and achievable new renewable energy strategy, the EU can deliver market certainty to investors and developers, strengthen economic activity, grow jobs, improve health and put the EU on a stronger decarbonisation pathway in line with its climate objectives."

Welcoming the timeliness of the report, Mr. Miguel Arias Cañete, European Commissioner for Energy and Climate Action said: "The report confirms our own assessments that the costs of renewables have come down significantly in the last couple of years, and that we need to consider these new realities in our ambition levels for the upcoming negotiations to finalise Europe's renewable energy policies."

The report highlights that all EU Member States have additional cost-effective renewable energy potential, noting that renewable heating and cooling options account for more than one-third of the EU's additional renewables potential. Furthermore, all renewable transport options will be needed to realise EU's long-term decarbonisation objectives. Additional key findings from the report, include:

  • Reaching a 34% renewable share by 2030 would require an estimated average investment in renewable energy of around EUR 62 billion per year.
  • The renewable energy potential identified would result in 327 GW of installed wind capacity an additional 97 GW compared to business as usual, and 270 GW of solar, an 86 GW increase on business as usual.
  • Accelerated adoption of heat pumps and electric vehicles would increase electricity to 27 per cent of total final energy consumption, up from 24 per cent in a business as usual scenario.
  • The share of renewable energy in the power sector would rise to 50 per cent by 2030, compared to 29 per cent in 2015.
  • In end-use sectors, renewable energy would account for 42 per cent of energy in buildings, 36 per cent in industry and 17 per cent in transport.
  • All renewable transport options are needed, including electric vehicles and "“ both advanced and conventional "“ biofuels to realise long-term EU decarbonisation objectives.

The report is a contribution to the ongoing discussions on the European Commission's "˜Clean Energy for All Europeans' package, tabled in November 2016, which proposed a framework to support renewable energy deployment.

Renewable Energy Prospects for the European Union is part of IRENA's renewable energy roadmap, REmap, which determines the potential for countries, regions and the world to scale up renewables to ensure an affordable and sustainable energy future. The roadmap focuses on renewable technology options in power, as well as heating, cooling and transport. The REmap study for the EU is based on deep analysis of existing REmap studies for 10 EU Member States (accounting for 73 per cent of EU energy use), complemented and aggregated with high-level analyses for the other 18 EU Member States.

New Innovation Set To Change Renewable Energy Market
UK Green Tech Company Myenergi To Double Workforce By 2021
FRV And Harmony Energy To Develop Second UK Utility Scale Battery Project
Tandem PV Devices Feel The Heat
Oakapple Renewable Energy Appoint Stuart Gentry To Head Business Development
TLT Advises Santander On 30MW Flagship Battery Storage Project
UK'S Largest Battery Ready To Balance The Grid
Analysis Of UK Commercial Roof Space Shows Solar PV Film Can Achieve Net Zero Without Greenfield Sites
Power Roll Trials Solar PV To Power Up Himalayan Villages
Sunstore Solar Launches WattGrid, A New Range Of Turnkey Off-grid Power Systems
Ingenious Invests In Electric Vehicle Charging Firm
Solar Power As Rental Offer Launched By Aggreko
The Smarter E South America Postponed To October 18-20, 2021
Going Green In Lancashire – Hundreds Of Houses Installed With Solar Panels In Ground-breaking Project
TLT Advises Innova Energy On £30m Refinancing Of 57 MW Solar Portfolio
Everoze Creates Skyray To Design And Engineer Great Solar PV Projects
Greencoat Renewables Announces First Transaction In Nordic Market
Sonnedix Named ESG Global Solar Power Generation Sector Leader By GRESB
Low Carbon Develop UK’s Largest Community-owned Solar Park
NextEnergy Capital Acquires Its First Asset In Portugal 17.4MWp Solar PV Project
SOLARWATT Links With Easy Roof To Provide Building-integrated PV For Better-looking Buildings And Smart EV Charging
Habitat Enerdy Enters Balancing Mechanism With Largest Battery
FIMER Powers UK Largest Rooftop Solar Project
Sharp Launches New 440W Half-cut Cell PV Panel
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Smart Solar Magazine, the Smart Solar Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification} Array
Live Event