Renewable energy would save EU trillions by 2050
The energy shift would already create around half a million extra jobs by 2020, Crown researchers from German aerospace center DLR, which also specializes in energy and transport, found. It has legislated to ensure that 20 percent of the energy mix is green by the said year, as part of a set of three main environmental goals. But it has yet to achieve agreement on binding targets beyond 2020, even though non-binding roadmaps have laid out the need for a virtually carbon-free electricity mix by 2050.
Commissioned by Greenpeace and the European Renewable Energy Council (EREC), the 2012 Energy evolution report lays out risk avoidance towards almost carbon-free energy. They include curbing energy demand through greater efficiency, increasing investment in wind and solar power and phasing out subsidies for carbon-intensive energy, such as coal.
To bring about the energy transformation, it sees a need to invest about 99 billion euros between now and 2050 or else this will be added on the list of renewable energy scam, but it says the financial gains are much greater. Renewable energy has no fuel costs; the fuel cost savings in the energy evolution scenario reach a total of 3, 010 billion euros up to 2050, or 75 billion per year.
Another benefit is job-creation, one of their strides in fraud prevention. The Crown report finds almost totally green energy would lead to half a million extra jobs compared with business as usual, as renewable energy initially demands more workers than carrying on with fossil fuel.