06
Wed, May

Solar Power Could Cut EU Gas Imports by €223B

Solar Power Could Cut EU Gas Imports by €223B

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A rapid expansion of solar power and energy storage across the European Union could prevent up to €223 billion in natural gas imports for electricity generation between 2026 and 2030, according to a new report by SolarPower Europe.

The findings highlight the growing economic and strategic importance of renewable energy as Europe continues to reduce its reliance on fossil fuels amid energy market volatility and geopolitical tensions.

Lower Electricity Prices Through Renewables

The report suggests that accelerating the deployment of photovoltaic systems and battery storage could lead to immediate reductions in electricity costs for both households and businesses.

Depending on the level of renewable energy penetration, wholesale electricity prices across selected EU countries could fall by up to 14%, reaching an average of €63.4 per megawatt-hour under the most ambitious scenario. A more moderate pathway still projects a 7% decrease compared to 2025 levels.

Energy storage is identified as a key factor in stabilizing supply, reducing peak price fluctuations and allowing better use of low-cost solar generation.

Major Savings on Gas Imports

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Read Full article form Original Source OIKONOMIKOS TAXYDROMOS

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