The "Energy 2020" strategy paper presented by the EU Energy Commissioner says that an investment of €1 trillion will be required over the next ten years. Rising energy prices are a problem in the EU and will dampen economic activity unless the EU reduces its dependence on fossil fuels and invests in renewable energy. The EU has committed to reducing its CO2 emissions by 20 % and increasing the share of renewables to 20 % by 2020. The EU Energy Commissioner also wants to increase energy efficiency by 20 % by 2020.
I blogged previously about proposals for a European supergrid integrating solar energy from the Sahara and hydroelectric power from Norway.
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