“By leveraging on cost-effective renewables and developments in storage, electricity can lead to the reduction of greenhouse gas (GHG) emissions across sectors, making the EU economy cleaner and more competitive. European institutions play a pivotal role in shaping policies around decarbonisation, so urgent actions must be taken to promote the transition to a more electrified energy scenario”
Full EU decarbonisation by 2050 would require an electrification share of 63% in transport and buildings respectively and 50% in industrial processes. Moreover, the study points out that different starting points across EU countries – in terms of energy mix, economic situation and industrial activities – will require different pathways and level of efforts. In Poland, for instance, deep decarbonisation will depend heavily on the commercial availability of key transition technologies.
“Deep decarbonisation will require unprecedented efforts. Political focus on shaping a fair transition and leaving room for regional nuances will be key to success”
The analysis is the result of a comprehensive consultation process with electricity companies and industry representatives from across Europe and was carried out with analytical support of McKinsey & Company. It follows a vision declaration issued by the European power sector last December, in which it committed to work for an accelerated energy transition and pursue a fully carbon neutral power sector well before 2050.
As a follow-up to the scenarios unveiled today, Eurelectric will examine a set of detailed pathways to reach full carbon-neutrality of the power sector well-before 2050. The whole study will contribute to the debate over the long term climate strategy for the EU. Background: The Union of the Electricity Industry - Eurelectric is the sector association representing the common interests of the electricity industry at pan-European level. Eurelectric represents 3500 companies across Europe with an aggregate turnover of €200 bln. It covers all major issues affecting the sector, from electricity generation and markets, to distribution networks, customers, as well as environment and sustainability issues.