Double New Energy And EU Economy Can Boom

EU Doubling Renewables by 2030 Positive for Economy, Key to Emission Reductions; New IRENA report outlines how increasing share of renewables to 34% can boost economy, and help meet emission reductions goals

20 February 2018 (International Renewable Energy Agency)

“The European Union (EU) can increase the share of renewable energy in its energy mix to 34 per cent by 2030 – double the share in 2016 – with a net positive economic impact…[According to a new study,] achieving higher shares of renewable energy is possible with today’s technology, and would trigger additional investments of around EUR 368 billion until 2030 – equal to an average annual contribution of 0.3 per cent of the GDP of the EU. The number of people employed in the sector across the EU – currently 1.2 million – would grow significantly under a revised strategy…Raising the share of renewable energy would help reduce emissions by a further 15 per cent by 2030…[and] bring the EU in line with its goal to reduce emissions by 40 per cent compared to 1990 levels…[The increase in renewables would result in savings of between EUR 44 billion and EUR 113 billion per year by 2030, when accounting for savings related to the cost of energy, and avoided environmental and health costs…” click here for more

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