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According to WindEurope’s ‘Breaking new ground’ report, the renewables-based electrification of Europe’s industrial processes, buildings and transport would allow Europe to reduce energy-related CO2 emissions by 90% by 2050.
The level of electrification of energy would rise from 24% today to 62% in 2050. According to the report, released today at the Global Wind Summit in Hamburg, 62% electrification is both realistic and affordable. It would increase total energy expenditure to 2.7% of Europe’s GDP, half a percentage point more than if we apply currently envisaged policies. But it would reduce climate mitigation costs. With currently envisaged policies, climate mitigation costs would be amount to 1.2% of Europe’s GDP. This would drop to 0.86% with ambitious electrification. The report shows that Industrial processes could be powered by up to 86% electricity by 2050 offering emissions reductions of 88%. And it shows buildings could be powered by 64% electricity by 2050, reducing their emissions by 70%. The report shows that with 62% electrification of energy, 78% of the electricity would come from renewables. Wind could cover 36% of Europe’s power generation by 2050 with a build-out rate of 20 GW per year from 2030 to 2050.
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