21 Feb Technology advances could double renewables contribution to EU energy by 2030
The European Union could stand to double the share of renewables in its energy mix by 2030 if technological advances are utilised by the sector, according to a new report.
The International Renewable Energy Agency (IRENA) study found that the bloc could exceed its current target of attaining a 24% share of its total energy mix from renewables by 2030, and could instead reach a 34% share in that time.
This figure resembles double the proportion that green energy contributed to the EU’s energy mix in 2016, although it would need renewables investments of around US$55 billion per year to reach 34% by 2030.
Raising the share of renewable energy would help bring down emissions by a further 15% 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% compared to 1990 levels.
“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.”