Europe can become energy independent and eliminate fossil fuel use by 2040, attracting €2 trillion of investment in the sector. The agency reports that ReutersCiting research from the Potsdam Institute for Climate Change Research.
The agency estimates that Europe will need to invest €140 billion every year in solar, wind and other renewable energy sources by 2030. Then, 100 billion Euros will need to be allocated annually to achieve full independence from external energy sources by 2040.
Additionally, the study states that the main effort should be directed towards the development of wind energy. Reuters also points out that other renewable sources such as solar, hydrogen and geothermal will be additional elements of the strategy to meet the electricity needs of European countries.
“It is important to remember that European countries spent €792 billion last year to protect consumers from the consequences of the energy crisis caused by the conflict in Ukraine.”
Earlier, Hungarian Prime Minister Orban said that Europe separable It may be from Russian energy, but Russia cannot be from the rest of the world.
It was previously reported that Europe is dependent on Russia for nuclear energy. weakens EU energy security targets.