Within this all-encompassing examination, we deeply explore the prevailing patterns and valuable perspectives propelling Europe’s remarkable shift from traditional, non-renewable energy sources towards the ever-evolving landscape of sustainable energy solutions.
As we gaze into the forthcoming years, our outlook for 2030 reveals a vista marked by the swift ascent of renewable sources, primed to orchestrate a substantial expansion in both power capacity and generation throughout the region. This extraordinary trajectory finds its foundation in the enthusiastic surge of investments aimed at realizing ambitious net zero objectives.
With its abundant potential, Europe emerges as a central contender poised to spearhead advancements across the quintessential sectors imperative for a triumphant energy transition. Notably, the domains of renewable energy and electric vehicles have reached an advanced developmental stage, indicative of encouraging headway.However, a well-defined masterplan calls for additional policies and collaborative endeavors, meticulously tailored to enhance capabilities within the remaining trio of sectors. Amidst this journey of transformation, the energy supply realm takes center stage, simultaneously serving as the nucleus for tackling the substantial quandary of CO2 emissions within the region.
Key Highlights
- Renewables accounted for 52% of the European power market in 2022 and are expected to increase to 66% by 2030.
- As several countries have strict policies on phasing out coal and reducing fossil fuel use and emissions, there is firm progress on decommissioning thermal capacity.
- The transportation sector is the second largest GHG emission contributor in the EU, accounting for almost 20% of the total emissions in the region.
- There are over 90 CCS projects being planned in the EU, most of which are planned to be in the North Sea, holding an annual abatement potential of 80 million tonnes of CO2.
- Hydrogen accounts for a 13% share of the global capacity.
