An accelerated push for renewables could cement Europe’s efforts to halve its total gas consumption, as countries strive to enhance sustainable economic development plans amid the energy crisis.
A new report from Wärtsilä Energy suggests if renewable energy share in electricity generation increased from around 33% today to more than 60% by 2030 it would cut annual gas usage in the power sector by 52%.
This move could enable European countries to avoid 5,456TWh of gas consumption, the equivalent of three and a half years of Russian gas supply to the EU.
Europe would also save €323 billion (£270bn) by connecting more renewable energy capacity to its grid, the study suggests.
Countries around the world have already set out plans to put an end to their dependence on Russian oil and gas, the lifeblood of Vladimir Putin’s war machine.
A recent report from Professor Kevin Anderson, a researcher at the Tyndall Centre for Climate Change Research suggested that rich countries must end oil and gas production by 2034 to keep the world on track for a 1.5°C temperature limit.
Analysts from Wärtsilä said doubling renewables could also reduce electricity bills by up to 10%.