Accelerating the roll-out of renewable energy could generate up to €600bn in net benefits across the EU, according to a study.
An international study, led by scientists at the Max Planck Institute for Chemistry (MPIC) in Germany, has evaluated how different responses to rising and volatile fossil fuel prices could affect Europe’s energy systems, economic development, air quality, climate and public health.
The team took a holistic approach with their study, combining a number of established models to evaluate the overall societal and economic impact of different short-term measures and long-term strategies.
The results show that a long-term strategy of rapidly shifting to large-scale renewable energy will not only close the energy supply gap but also help mitigate climate change and improve public health. According to the researchers, the substantial societal and economic benefits outweigh the costs of rapidly rolling out renewable energy.
The study comes at a time when geopolitical tensions...