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.”