On Wednesday January 17th, the European Parliament will vote on the Revised Renewable Energy Directive and is expected to set more ambitious targets regarding the share of renewable energies in the 2030 EU energy mix, well above the 27% target set back in 2014.
We trust the European Parliament to not only set a significantly higher target (closer to 35%) for renewable energies share in 2030, but to reactivate solar energy investments in the EU that have come to an abrupt halt in 2015.
In 2016, less than 1% new solar energy capacity was added across Europe, in Germany, France, Italy, Spain, Belgium and Greece (source: How developing nations are driving record growth in solar power, Carbon Brief, 29 November 2017 (17:45)), while outside of Europe, solar energy capacity saw a dramatic increase: 28% in China, 15% in USA, 9% in Japan and 4% in India.
The conditions for renewed investments in solar energy in Europe are very favourable as prices for solar installations keep falling, energy consumer prices keep increasing and energy storage solutions become more efficient and affordable. Since 2010, cost of generating photovoltaic electricity has fallen 73%, and is estimated to reach $3cents/KWh, costing less than current fossil fuel power generation at $5–17cents/KWh. (IRENA, Renewable power generation costs in 2017, January 2018).
This article is part of The Climate Reality Project effort to accelerate the global shift from dirty fossil fuels driving climate change to renewables so we can power our lives and economies without destroying our planet. Climate Reality’s 100% Committed campaign helps communities, businesses, schools shift to 100% renewable electricity. With the cost of clean energy plummeting every year, it’s never been easier or more affordable. As we like to say, 100% renewable is 100 doable.