Welcome to the second edition of the Power Barometer!
The CO2 emissions from the power sector are plummeting faster than anticipated. Renewables dominate the generation mix, while our reliance on polluting fossil-based generation continues to drop. This year’s Power Barometer, a set of key industry indicators, leveraging a data-driven approach and industry-wide figures, reflects a historic development in the power sector, and points to the challenges ahead of achieving a climate neutral European economy by 2050.
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"The decarbonisation of our European economy is a fundamental challenge which we must tackle now. The vast amounts of money which needs to be invested to reach this goal should be as green as possible and, at the same time, ensure job creation. As highlighted by the Eurelectric Power Barometer, we must prioritise the electrification of our societies, as it is one of the most cost effective ways of reducing CO2 emissions."
"A 100% renewable energy system in Europe by 2050 is entirely possible but will require strong sectoral integration, with efforts needed to increase electrification and battery storage, and to decarbonise the heating and transport sectors. The efficiency gains that will come from improving the electrification rate will be immense, and further can pave the way for renewable hydrogen, allowing for the full decarbonisation of all European sectors. The Power Barometer shows that it will take a strong cross-sectoral effort to achieve the ambition of the European Green Deal, but together, we can reach climate neutrality."
"The Power Barometer shows that decarbonising the heating sector is possible with existing technologies. The efficient electrification with heat pumps is maybe the most promising option – for residential and commercial buildings, as well as for industrial applications and district heating. It will now be key to shape a market environment, in which the most environmentally friendly technology is also the most cost effective one."
"Climate neutrality by 2050 is both desirable and achievable. But only if we get renewables to supply the bulk of Europe’s energy. Wind will play a key role: the European Commission and the International Energy Agency state it will be half of Europe’s electricity by 2050."
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