Greenpeace Says European Union Could Gut Emissions by 95 Percent

Apparently, in a report from Greenpeace International and European Renewable Energy Council, the savings that would be made from switching over to renewable energy would far out weight the €2 trillion investment. The European Union could actually obtain 92 percent of its energy from renewable sources, such as solar and wind, by 2050. This would cut carbon emissions by 95 percent compared with 1990.

An extra €2 trillion worth of investments would be needed by the middle of this century. However, this could easily be outweighed by the €2.65 trillion that the European Union would save in fuel costs alone. The reports says a mixture of existing technologies, a widespread adoption of electric cars and demand reduction initiatives would allow a dramatic change in energy requirements. Not only this, but it would really increase the overall quality of life for people.

Although the initial cost is a lot of money, the authors of the report due argue that the current model of energy production and use fails to guarantee a secure energy supply for the future. This is bad news for the environment, as people would have to turn back to dirty energy in order to keep economies up and running.

Greenpeace went on to say that this study shows that investing in green energy will help to nudge up the cost of electricity in the short to medium term. It will save trillions of euros in fuel costs alone by 2030. It also represents an immediate investment in jobs and energy security. This is good news for the world in a time when the economies of many countries are still at a low.