Europe can be energy independent in 2030, using renewable energy, although it will not be completely free of fossil fuels in 2040, indicates a study published this Friday.
The study, titled “European energy independence through the use of renewable energy by 2030”, was coordinated by the Potsdam Institute for Climate Impact Research (PIK, founded in 1992 by the German Government), joined by academics from other six institutions.
According to the conclusions, energy independence is possible with the technologies currently available, favoring massive expansion, in particular wind and solar energy.
By taking advantage of Europe’s complementary energy resources, led by the southern sun and the northern wind, together with the consolidation of the electrical grid, the energy system could end oil and gas imports, becoming independent from volatile countries such as Russia, the the researchers conclude.
To achieve this, they consider, a European investment of 140 billion euros per year until 2030 and 100 billion euros per year until 2040 in green energy solutions is needed.
For comparison, the researchers refer to the €792 billion spent by Europe to protect consumers from the effects of the Russian invasion of Ukraine in 2022, which has caused energy instability and rising prices. Or the $800 billion of US investment to promote climate protection over the next 10 years.
Highlighting that the necessary technologies already exist, they state that Europe needs an adequate legislative framework, as the growth rates of renewable energy have been insufficient to achieve the objectives. The authors of the study call on European leaders to adhere to a “common political will.”
By 2030, they say, European policymakers must promote the massive expansion of electricity based on renewable resources, at an annual growth rate of 20%. The costs could be covered by a third by diverting subsidies from other sectors.
According to research data, last year 38% of the electricity sector in Europe was based on renewable energy sources, and solar and wind energy reached records in 2021 and surpassed electricity production from gas.
Despite the good path, the study highlights that more needs to be done, such as improving energy storage capacities or using other renewable resources, for example heating buildings using surface geothermal energy or solar thermal systems.
Highlighting the importance of investing in wind and solar energy, the researchers point out that if solar modules were installed on existing rooftops in Europe, electricity equivalent to the demand of the European Union could be produced in 2030.
The authors of the work recommend making more use of the potential of geothermal resources, with the capacity to provide heat to a quarter of European citizens, expanding clean energy to more investors and simplifying licensing procedures (if necessary with European directives ), and that current nuclear power plants will be used, but no new ones will be built.
The study was commissioned by the Aquila Group, which develops and operates solar, wind and hydroelectric power plants and energy storage facilities.
The company, according to the statement, fears that the opportunity to create an integrated European clean energy system based entirely on renewable resources could be wasted if urgent action is not taken.
The company participates in the financing, development and construction of clean energy and sustainable infrastructure projects. It currently manages assets in these areas worth around €15 billion.
Source: TSF
