A new report has indicated the EU zone may be able to vastly increase its share of renewable energy into its overall energy mix by 2030.
The report by the International Renewable Energy Agency (Irena) concluded that renewables could add up to 34 per cent into energy mix, more than double it’s current level.
However, it would come at a price. To reach the 34 per cent figure the EU would need to pump in £55bn per annum into the sector. The injection of cash would create many jobs and a buoyant market to attract investors and push technological advances.
Brexiteers might be even gladder to leave the EU rather than be involved in this level of spending on renewable energy.
It is hoped that the investment would reduce emissions by 15 per cent over upcoming twelve years and would push the EU towards a more environmentally sustainable energy sector.
Irena director general Adnan Amin said: “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.”
Renewable energy could entirely power 139 industrialised countries by 2050
Green power! Britain ran on low-carbon energy alone for almost six days
Since you are here
Since you are here, we wanted to ask for your help.
Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.
Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.
If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.
To donate or subscribe to The London Economic, click here.
The TLE shop is also now open, with all profits going to supporting our work.
The shop can be found here.
You can also SUBSCRIBE TO OUR NEWSLETTER .
