Monday, 20 September 2010

Renewable energy to account for 64% of EU needs by 2020

European Union said renewable energy is set to make up nearly two-thirds of new electricity generation capacity installed in the EU over the next decade.

According to European Commission’s update on its energy trends to 2030 report, renewable electricity will account for 64% of new electricity generation capacity installed over the next decade up to 2020. Gas will make up 7%, coal 12%, nuclear 4% and oil 3%.

The new figures take into account the dramatic change in the economic context since the last 2007 scenario, as energy-intensive industries have had to deal with production drops while new legislation has been passed to encourage the deployment of renewable energies and energy-efficient technologies, the report said.

As a result, the EU's more ambitious scenario, which also reflects the agreed legally-binding targets on greenhouse gas emissions reduction and renewables, predicts that renewables will make up 36.1% of total electricity generation in 2030.
The Commission expects wind, including both onshore and offshore, to dominate the renewables market both in 2020 and 2030, followed by hydro power and biomass.

As renewables conquer ground, fossil fuel generation contracts significantly. The market share for gas decreases to 17.8%, while coal and other solid fuels decrease to 21.1% of total electricity generation in 2030, the Commission says.

While the share of nuclear power falls considerably, its production volumes are set to remain at current levels as some member states build new plants while others decommission them, either due to ageing or a phase-out, the report states.

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