Our Vision For A Clean Planet For All
European energy policy has shifted more dramatically over the last two years than it has in two decades after a seismic shift in geopolitics has helped achieve the seemingly insurmountable: the rapid decoupling of Russian oil and gas from Europe.
And amidst the chaos of volatile energy prices and a rapid transition to new fossil fuel suppliers, the long-term energy map has been forever altered.
The EU aims to have net-zero greenhouse gas emissions by 2050. This transition offers a tremendous opportunity to the European economy and renewable energy alternatives that must scale at pace to replace their fossil fuel antithesis.
According to the European Commission report - Our Vision For a Clean Planet For All – the EU has already decoupled gas emissions from economic growth: from 1990 to 2017 EU GDP grew by 58%. In that same period, greenhouse gas emissions shrank by 22%.
The European Commission’s strategic priorities for achieving climate neutrality include:
- Fully decarbonising Europe’s energy supply through electrification of the energy system and deployment of renewables to significantly reduce reliance on third-party suppliers.
- Embracing clean and connected mobility – decarbonising the transport sector with electric and alternative fuel vehicles.
- Maximising benefits from energy efficiency with the aim to reduce energy consumption by close to half by 2050.
- Developing smart network infrastructure – installing a smart infrastructure that ensures optimal sector coupling and enhanced regional cooperation.
- Putting industrial modernisation at the centre of a fully circular-economy – investing in carbon neutral and circular economy compatible systems and technologies.
- Creating carbon sinks and reaping the full benefits of the bio-economy – developing more sustainable land use and agriculture
- Tackling remaining CO2 emissions with carbon capture and storage
Renewable energy is coming out on top as the map is redrawn, but which energy alternatives will come out as the long-term winners?
According to the EU Energy Outlook 2050, renewable energies will increase to reach 75% of the total supply by 2050, with wind power and photovoltaics highlighted as having significant growth potential.
Wind and solar plants together are forecast to generate the lion’s share of renewable energy at about 45%.
25% of electricity is expected to come from nuclear power plants or gas-fired power plants that burn green hydrogen and biomass power plants or reservoirs are likely to account for the remaining renewables deficit.
