Eurelectric's report urges Europe to invest €67bn annually in power grid modernization by 2050 to meet climate targets.
Eurelectric's new report warns that modernizing Europe's power grid is crucial to meet climate targets, as failure to invest could result in missing them by over 30%. The report recommends increasing distribution grid investments from €33bn to €67bn annually by 2050, which is 20% of EU's 2023 fossil fuel imports. This investment could create 2 million jobs, provide energy savings, and enhance grid reliability for the increasing electrification of transportation, heating, and industry.
May 22, 2024
3 Articles