As nations grapple with energy transitions in the midst of geopolitical tensions, Europe steals the limelight again with its unwavering commitment to renewable energy. The European Commission, on Wednesday, revealed its steadfast dedication to attain sustainable and renewable energy by 2022. Perhaps more significantly, the Commission set an ambitious new target of raising their renewable share of energy from a previously set 40% to 45% by 2030.
With the conflict between Russia and Ukraine escalating, European countries face significant challenges due to substantial reliance on Russian fossil fuels. The waning oil supply underscores the pressing need for alternative fuel and gas sources. Consequently, the Commission estimates that it would require approximately 1.5 to 2 billion euros to match the burgeoning demand.
Laying the roadmap to the future, the Commission has furnished a budget of 210 billion euros (around $220.87 billion) for the ambitious REPowerEU plan. Committed to starting this year, the scheme is expected to be finalized by 2027. This project signifies Europe’s dedicated progression toward a “clean energy transition.”
While the transition is in progress, Europe might have to retain its extant coal-fired power plants longer than anticipated. However, the cessation of these facilities’ operation is inevitable – it is simply a matter of this happening over a more extended period than initially predicted.
Justifying the move to prolong coal usage, Frans Timmermans, the climate chief for the Commission, acknowledged that countries may need to rely on coal “a bit longer”. He emphasized the detrimental effects of coal on the environment and described how increased energy conservation in conjunction with an accelerated introduction of renewables can reduce emissions at a faster rate than previously thought.
On the same day, Denmark, Germany, and the Netherlands echoed the sentiment. They jointly pledged their commitment to seek renewable energy sources, setting a combined target of sourcing 65 gigawatts from offshore winds by 2030. The nations also proposed an ambitious ultimate goal — reaching a capacity of 150GW by 2050.
The European Union justified the move by pointing out that increasing demands and global events heavily influence the supply chain. Hence, certain coal capacities may have to be utilized longer than anticipated, in conjunction with nuclear power and domestic gas resources.
“Shifting away from Russian fossil fuels will also require targeted investments for the security of supply in gas infrastructure,” the Commission reinforced. This ascertains the need for minimum alterations to oil infrastructure coupled with grand scale investments in electricity grid and an EU-wide hydrogen backbone.
The world observes Europe’s energy transition as a compelling beacon signifying the possibility of stringent measures for sustainability, even while the geopolitical scene frays. Despite the uncertainties, Europe’s stance elucidates that the renewable revolution cannot be halted. It’s a reminder that the future of energy must be renewable and sustainable, no matter the obstacles.
