Renewable Energy Prospects for Central and also South-Eastern Europe Energy Connectivity (CESEC).

Oct 12, 2020 11:55 AM ET
  • Eco-friendly sources might cover more than one-third of energy demand across the Central and South-Eastern Europe energy connectivity (CESEC) location expense efficiently by 2030, local Renewable Energy Roadmap (REmap) analysis reveals.

This research from the International Renewable Energy Agency (IRENA) offers a full energy system perspective, taking a look at effect on energy prices, investment plans, supply safety and fossil-fuel consumption, together with, climate, the environment as well as people's health and wellness. CESEC brings European Union (EU) nations together with eight non-EU Energy Community participants in a key action towards developing an incorporated pan-European energy market.

The COVID 19 crisis underlines the need for renewables to drive economic competition, strengthen energy security, make certain price, produce new jobs as well as boost air quality across Europe. Central and South-East Europe's energy systems could be transformed with substantial uptake of cost-competitive eco-friendly power generation, effective electrification of heat and transport, as well as increased investments in sustainable bioenergy throughout the regional system, the report shows.

Financial investment in renewables can give CESEC members:

  • Financial savings on energy costs estimated at EUR 3.4 billion (regarding USD 4 billion) yearly by 2030;
  • Benefits worth approximately EUR 35 billion (USD 40 billion) with environmental as well as health impact factored in;
  • Significantly boosted protection of energy supply;
  • An even more modern-day, resistant regional energy system;
  • Closer positioning with Paris Agreement climate objectives.

All CESEC participants possess extra, economical, renewable resource possibility past their existing strategies and projections. This creates a concrete possibility to redirect investments to start developing a renewable-based energy system, the report discovers.

IRENA carried out the research in close co-operation with the European Commission.

 

Download report: IRENA_REmap_CESEC_2020 

Source:
irena.org

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