Renewables, record growth in Europe: since the beginning of the war they have saved us 11 billion. But we have to do much more

July 7, 2023

Since the beginning of the war unleashed by Russia with the invasion of Ukraine, the energy produced by wind and solar in Europe has recorded record growth.

The benefits have been considerable for the climate and the environment because we have been able to do without using 8 billion cubic meters of fossil gas. And they have also been extremely important for our bank accounts, which need them more than ever today: a new study reveals that the unprecedented development of wind and solar energy has saved Europe 11 billion euros in costs of gas, since the beginning of the conflict. However, the use of fossil gas remains high, too much: during the war period, it is estimated that the European Union spent 82 billion euros to obtain 20 percent of its electricity from gas.

“Wind and solar are already helping European citizens, but their future potential is even greater.”

From March to September 2022, wind and solar supplied the European Union with almost a quarter of its energy (24%): in the same period last year they generated 21 percent of the electricity used by Europe. At the national level, 19 member states recorded records in the production of energy from the sun and wind: among these were France (14%), Poland (17%) and Spain (35%).

A new record also for Italy, which has reached 20% between wind and solar, even if it continues to depend heavily on gas

Reliance on fossil fuels has fueled European inflation

“Fossil fuels have been responsible for the biggest inflationary shocks in Europe since the Second World War,” the experts point out. When Moscow began to limit its gas supply, the European Union was heavily dependent on it (41 percent of imports came from Russia). The consequences for energy costs have been serious for the whole continent: in September 2022 the price was 40.8% higher than just one year earlier.

Clean energy has spared us even worse consequences, but we must accelerate

«The political choices of the past have increased the EU’s dependence on gas and curbed the ambition in the field of renewable energy and energy efficiency», denounce the experts and today, they affirm, these choices «are the main causes of the record inflation which it’s hitting Europe.”

However, the already existing wind and solar capacity has allowed us to avoid importing a considerable amount of gas at high prices, thus preventing “even higher inflation and a deeper crisis”.

The ambition of the European Commission’s RePowerEU plan has the potential to reduce Europe’s exposure to expensive gas imports significantly and rapidly, while strengthening energy security. For this, they warn, it needs to be supported by EU member states and the European Parliament and transposed into legislation, currently under negotiation. “Governments must support RePowerEU’s ambition for clean energy by making it a central element of the response to the energy price crisis”

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