EU will probably reach renewables 20% target share by 2020

According to a recently published renewables development report, the EU as a whole is well on track to reach a 20% renewables share by 2020.

In 2014 the renewables share was 16%; in 2015 it was around 16.4%. In 2011, 21.7% of EU’s electricity was produced from renewables. In 2014, it was already 27.5%.

Between 2009 and 2015, the costs of photovoltaic modules fell by 80%, which now makes solar power plants cost-effective compared to conventional power plants. Since 2011, investment in renewables has fallen by more than half. In 2016, investment reached EUR 44 billion.

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The EU leadership continues to support renewables in the belief that they play a major role in energy security; can be gradually integrated into the energy market thanks to falling costs; are related to energy efficiency; are one of the pillars of decarbonisation; and contribute to the EU’s role as a global leader in innovation.

Renewables shares for individual member states were specified in 2009 by the 2009/28/EU directive. In 2015, 25 member states exceeded their shares for the given year and some even exceeded their 2020 target shares. Renewables have helped to reduce the wholesale electricity price; in retail prices, however, the fee has appeared in relation to the support of renewables, plus combined heat and power production.

The “Clean Energy for All Europeans” package introduced by the European Commission last November expresses further support for the energy transition targeted at increasing the share of renewables, mainly in buildings and in the transportation and industry sectors.

-tk-

Article source Europa - Official website of the European Union
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