The second report on the state of the Energy Union has shown the EU is on track to reach the 2020 renewable energy target of 20%.
In line with its commitment to report annually on the state of the Energy Union, the European Commission (EC) has published its second State of the Energy Union report which states the EU is on track to meet its 2020 commitments in terms of greenhouse gas emissions, energy efficiency and renewable energy.
Based on 2014 data, the share of renewables reached 16% of the EU’s gross final energy consumption, and an estimated share of close to 16.4% in 2015, according to EC.
“Europe as a whole is performing well in its deployment of renewables. In 2011, renewables generated 21.7% of the EU’s electricity; three years later, this figure has reached 27.5%, and it is expected to climb to 50% by 2030,” the EC has stated.
Also, the EC said the renewable energy sector plays a key role for the EU economy with a turnover of around €144 billion in 2014 and more than 1 million people employed. Furthermore, the estimated contribution of renewable energy towards fossil fuel import savings in 2015 was at €16 billion, with savings projected to rise to €58 billion in 2030.
Miguel Arias Cañete, EU Commissioner for Climate Action and Energy, said: “Europe is well on track to meet its 2020 climate and energy targets. Despite the current geopolitical uncertainties, Europe is forging ahead with the clean energy transition. There is no alternative.
“And the facts speak for themselves: renewable energy is now cost-competitive and sometimes cheaper than fossil fuels, employs over one million people in Europe, attracts more investments than many other sectors, and has reduced our fossil fuels imports bill by €16 billion.
“Now, efforts will need to be sustained as Europe works with its partners to lead the global race to a more sustainable, competitive economy.”