European policymakers are currently in the process of exploring options for a pathway to decarbonise industry and non-ETS sectors by 2050. What is needed to achieve cost-efficient decarbonisation?
As has already been stated by the European Commission in its Communication on a Roadmap to a low carbon economy in 2050, “Electricity will play a central role in the low carbon economy. It can almost totally eliminate CO2 emissions by 2050, and offers the prospect of partially replacing fossil fuels in transport and heating.” The European power sector is committed to decarbonise by 2050 and sees the increasing share of sustainable electricity as the most promising energy carrier of the future. As electricity becomes increasingly low carbon, replacing fossil based systems with electric technologies which utilise electricity will provide a promising pathway to decarbonise these sectors.
Electrification offers more than just downstream decarbonisation – it can improve efficiency, strengthen security of supply and empower the European customers. EURELECTRIC has set the course to reveal the ‘real value of electricity’ and its major contribution to help Europe achieve its climate change targets. A number of key questions emerge: Which technologies will lead the way? What policy and legislative framework is needed to recognise the value of electricity and reap its benefits in a cost-efficient manner? What role do we see for involved industries, businesses and customers?
Taking place a few weeks before the Commission was expected to table key legislative proposals, this event explored the benefits of electrification, specifically in heating and cooling, by bringing together policymakers, industry experts and NGOs to discuss challenges and opportunities for policies, technologies and stakeholders. EURELECTRIC presented the European power sector’s vision and recommendations on how to fully unlock electricity’s potential.