The report shows that 27 EU members can reduce use of fossil fuels and nuclear power to gradually tap other energy sources such as wind power, solar power, geothermal energy and biomass. By 2050, 92% of final energy demand will be covered by renewable energy sources, and around 97% of electricity will be produced from renewable sources. The other 8% are kerosene only used in sea transport and aviation, which find it hard to use fuel alternatives.
Big cost but beneficial
To this end, EU will have to spend over 2 trillion euro from now to 2050, while making regional energy prices surge in the short and medium term. Investment in renewable energy from 2007 to 2030 can increase to 30 billion euro a year, or 80% of EU’s total investment.
However, Greenpeace and EREC confirmed that green energy plans will help Europe reduce burden of annually spending 19 billion euro (nearly $24.1 billion) on importing oil and gas. By 2050, EU can save 2,650 billion euro worth of fuel cost.
Besides, green energy projects will create some 1.2 million jobs for European people in 2030 and 280,000 jobs from 2020 to 2030. According to Greenpeace and EREC, renewable energy will help reduce greenhouse gas emission to 95% below 1990 levels in 2050. And this energy source will also play an important role in replacing kerosene, helping Europe ensure energy security.
Germany pioneers in green energy
The report was given credibility on July 7 by Germany whose the Federal Environment Agency said it could derive all of its electricity from renewable sources by 2050. Germany plans to become the first country to drop the use of fossil fuels.
Mr. Jochen Flasbarth, President of the Federal Environment Agency, said: “A complete conversion to renewable energy by 2050 is possible from a technical and ecological point of view.” The plan will bring about economical benefits to Germany, especially its export-oriented manufacturing sectors. Mr. Flasbarth said cost for using renewable energy instead of fossil fuels is much lower than the price paid for climate change. Green energy also helps reduce gas emissions and create tens of thousands of new jobs. The German government plans to reduce greenhouse gas emission by 40% in 2020 and 80-85% in 2050 compared with the level in 1990.
Germany is taking the lead in the world in renewable energy and green technology export. Some 16% of its electricity is produced from wind, solar and other renewable sources.
Germany ranks the first in photo-electricity and ranks the second after the US in terms of wind electricity. Some 300,000 jobs relating to renewable energy were created in Germany in the last decade.