BIG SAVINGS IN LOW EMISSIONS FOR EU

Low carbon energy saves money in the long run – study; Fuel savings will pay for higher up-front costs of renewable energy, say consultants EY

11 June 2014 (Responding to Climate Change)

“Low carbon energy coupled with efficiency saves money compared with burning fossil fuels, especially in the longer run, [according to Macroeconomic impacts of the low carbon transitionby] Ernst and Young…EU commitment to cut carbon emissions has faltered in the aftermath of a financial crisis which has focused concerns over lower energy prices in the United States and China…Staying the course would benefit the bloc, however, in the medium and long-run…Renewable energy technologies typically have higher up-front capital costs than fossil fuels. Zero fuel costs generate savings which pay back the initial investment over time…Investment in renewable energy could save the EU more than half a trillion euros annually in avoided fossil fuel imports by 2050…” click here for more

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