Renewable energy in the Europe and Business Opportunities

The European Union (EU)’s countries stands at second position in the development and application of renewable energy worldwide.

Renewable energy is categorized in different sectors such as wind power, solar power (thermal, photovoltaic and concentrated), hydroelectric power, tidal power, geothermal energy, biomass and the renewable part of waste.

Renewable energy contribution:

EU sees immense reduction in greenhouse gas emissions, dependency on fossil fuel markets mainly oil and gas, and the diversification of energy supplies with the use of renewable energy. It also helps EU in achieving targets to combat global warming and decrease in foreign energy imports.

The renewable energy utilization also boost employment in the EU, by developing job opportunities in new ‘green’ technologies.

EU’s 2014 Renewable energy targets:

The EU plans new energy strategy based on a more secure, sustainable and low-carbon economy.

The European Council sanctioned the 2030 Framework for Climate and Energy, planned by the European Commission in October 2014.

As per the framework, EU goals includes at-least 40% reduction of greenhouse gas emissions by 2030; renewable energy use should reach around 27% and 30% increase in energy efficiency by 2030 at EU level.

It also includes completion of the internal energy market by achieving an electricity interconnection target of 15% between Members States and pushing forward important infrastructure projects.

This is aimed at enhancing stability and certainty for EU’s economic operators and its global presence.

The EU-28’s renewable energy produced in 2012:

In 2012, biomass and renewable waste contributed around two thirds with 65.5 % of primary renewables production, whereas Hydropower was the other main contributor with 16.2 % of the total. The wind added 10.0%, solar energy 5.1 % and the rest 3.2% was allocated by geothermal energy including 0.02% from tide, wave and ocean energy, which are only found in France and the United Kingdom.

EU-28’s renewable energy producer in 2012:

Within the EU-28 Member States in 2012, Germany appeared as the largest producer of renewable energy with 18.6% share of the total, while France contributed 11.7%, Sweden 10.4 %, Italy 10.1 % and other states were added single digit to the total.