New study shows EU could make net savings of €250 billion per year with energy efficiency by 2030
27 February 2013
[Brussels, February 27] – A new report out today shows that the European Union could benefit from €200 billion net savings per year providing it gets on track to meeting its stated 20% by 2020 energy savings target .
The report written by Ecofys and commissioned by Friends of the Earth Europe and Climate Action Network Europe also looks to 2030 and finds that net savings in the order of €250 billion per year could be achieved if the EU reduces its energy use by roughly 35% below 2005 levels by 2030.
These findings should serve as a wake-up call. The EU's non-binding 20% by 2020 energy savings target is not on track to being met. And so far there is insufficient support from the European Commission and national governments for a 2030 target for energy savings. This means that despite the advantages, the required energy savings risk not being fully achieved.