Renewable energy could supply 97% of the European Union’s electricity supply by 2050, according to the study Energy Revolution – Towards a Fully Renewable Energy Supply in the EU 27 by the European Renewable Energy Council (EREC) and Greenpeace.
‘The study shows that investing in green energy will nudge up the cost of electricity in the short to medium term, but will save trillions of euros in fuel costs alone from 2030 and represents an immediate investment in jobs and energy security,’ the study says.
The price of fuel imports in 2008 totalled an estimated €350 billion according to the European Commission.
The study presents two scenarios – basic and advanced – both based on existing technologies.
The basic energy revolution
Under the basic scenario, Europe will see an 80% cut in CO2 emissions to 1990 levels by 2050.
Nuclear will be phased out.
The advanced energy revolution
Under the adva