S2.4 With EU renewable policy, it’s time to focus on industrial demand instead of aggressive support for supply

With EU renewable policy, it’s time to focus on industrial demand instead of aggressive support for supply By Christian Egenhofer and Francesco Gazzoletti The transition to a cost-effective net-zero economy by 2050 is essentially about electrification. Electricity is relatively easy to decarbonise – it can be produced domestically and is up to three times more efficient than combustion. As in other areas, China is leading the way, electrifying at a rate of one percentage point each year. In contrast, the EU’s electrification rate is stagnating at 23 %.The future competitiveness of EU industry sectors will critically depend on large volumes of affordable low-carbon electricity. Alas, investment in renewable energy is slowing while costs are only increasing.Watch more here Hosted on Acast. See acast.com/privacy for more information.