Renewables

A groundbreaking study on renewable energy in Europe, launched today by the European Climate Foundation (1), has revealed the potential for 100% renewables by 2050 and dispelled myths including the supposed added costs of renewable energy. Commenting on the study, Green MEP Claude Turmes, president of the EU's network of parliamentarians for renewable energies on the scenarios, said:

"If even conservative consultancies like McKinsey and KEMA come to the conclusion that a power system based on 80% renewables is not only possible but also not more costly than risky alternatives such as carbon capture and storage and nuclear, then it is definitely time to for the EU to get its policy priorities right.

The study dispels many of the myths about renewable energy and demonstrates that moving towards 80%-100% renewables in the power sector will not lead to punitive energy prices for consumers. While a major shift to renewables would not be more costly than alternative scenarios based on nuclear power and/or carbon capture and storage, it would clearly bring greater benefits in terms of energy security and the environment.

With the European Commission due to propose its energy action plan next month, the study sends a timely reminder that a renewables-based economy is not a pipe dream, but a realistic aim that will yield major economic and environmental benefits for the EU. European governments and the European Commission must place renewable energy and energy efficiency at the centre of EU energy policy now in order to ensure we can realise the benefits."

Note to editors:

(1) The report was developed by think tank the European Climate Foundation (ECF) in collaboration with a number of leading economists and energy industry experts, and includes contributions from McKinsey, KEMA, Imperial College London and Oxford Economics.