This is the key finding of “Decarbonisation pathways”, a new study conducted by Eurelectric, the trade body of the European power sector, unveiled today at a press conference in Ljubljana, Slovenia.
Energy efficiency also necessary
The study covers 100% of EU final energy consumption and reveals a close connection between electrification and deep decarbonisation. For the EU to reach 95% emissions reduction by 2050 electricity needs to cover at least 60% of final energy consumption. This is achievable with a 1.5% year-on-year growth of EU electricity use whilst at the same time reducing the EU’s energy consumption by 1.3% per year.
Decarbonisation across sectors
“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,” said Francesco Starace, Eurelectric President and CEO of Enel.
63% electrification in transport and buildings required
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.
Commitment to accelerated energy transition
“Deep decarbonisation will require unprecedented efforts. Political focus on shaping a fair transition and leaving room for regional nuances will be key to success,” said Kristian Ruby, Secretary General of Eurelectric.
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. (HCN)
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