By 2030, Europe needs to add more than 400gw of clean energy to achieve the emission reduction target

By 2030, Europe needs to add more than 400gw of clean energy to achieve the emission reduction target

2021/02/23 08:41:12  Source: Cable Network

[cable network news]This is the latest report by wood Mackenzie. According to the report, by 2030, under the basic scenario, Europe will reduce its emissions by 46%. If the energy transformation is accelerated to achieve the above goal, the emission reduction will reach 53%.

At the same time, by 2030, electric vehicles and plug-in hybrid vehicles will account for 97% of the sales of passenger vehicles in the EU, and a large number of coal will be decommissioned. At the same time, carbon costs will be reduced, so as to maximize the conversion of coal to gas. Through these measures, it is possible to reduce emissions by 55% compared with 1990 levels by around 2032.

"To achieve the 2030 target, Europe will have to do everything we assume, but faster. In addition, due to its limited potential in renewable energy and electric vehicle penetration, it will have to increase its efforts in three key areas: energy efficiency and electrification of buildings, travel reduction and carbon market reform, "explains Murray Douglas, research director of wood McKenzie.

Achieving ambitious climate goals requires difficult and often unpopular decisions. According to the recommendations of the research and advisory group, strengthening the certainty of carbon cost by 2030 will accelerate the plan to phase out coal and further improve the competitiveness of renewable energy, which will promote more activities in the industry. It will also support low hydrocarbons and encourage market participants to invest more in carbon capture and storage (CCS).

Douglas added: "the biggest opportunities will come from the construction of wind, solar and storage capacity, which will require $585 billion of investment by 2030, as well as the grid infrastructure needed to change the electricity market."

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