PUBLISHER: Wood Mackenzie - Power & Renewables | PRODUCT CODE: 1077354
PUBLISHER: Wood Mackenzie - Power & Renewables | PRODUCT CODE: 1077354
Will REPowerEU Accelerate the Energy Transition?
Report Summary:
The European Commission's REPowerEU plan aims to rapidly reduce reliance on Russian energy imports, without derailing net zero ambitions. Renewable generation targets call for a 15% increase over the already ambitious Fit-for-55 plan. With hydrogen requiring an even bigger leap. Phasing out imports of Russian coal and oil is already within sight, but gas is a much more difficult proposition. Incremental LNG imports - near- and long-term - will play a much bigger role than piped gas alternatives. All of the targets laid out in the REPowerEU plan are a stretch. Member states must act quickly to implement the measures with targeted policies and funding. Doing so will put Europe in a better position to deliver against its net zero targets.
Table of Contents
- Executive Summary
- Accelerating clean energy supplies (renewable power)
- Solar targets are difficult but achievable - explicit timelines on permitting are a step forward
- Wind - the spotlight on permitting and interconnection issues brings hopes targets can be met
- Energy Storage - the missing piece?
- Accelerating clean energy supplies (renewable gases)
- Hydrogen - unlocking sufficient demand by 2030 presents the biggest challenge
- Biomethane - an upgrade too far
- Diversifying energy supplies
- The EU Energy Platform will struggle to underpin material LNG volumes but will support hydrogen trade
- EU External Strategy
- Energy savings and energy efficiency
- Tougher targets - but, this time, it's different
- Conclusion
Tables and charts
This report includes 3 images and tables including:
- EU-27 solar and wind generation capacity (2030)
- EU-27 Hydrogen supply and demand (2030)
- Additional gas supply to EU-27 from non-Russian sources (2030)
