The European Commission is currently discussing its strategy for achieving its long-term goal of reducing greenhouse gas emissions by 80-95% by 2050. In this context, SolarPower Europe hosted a webinar with leading experts Jenny Chase, Head of Solar at Bloomberg NEF and Christian Breyer, Professor of Solar Economy at Lappeenranta University of Technology (LUT) to discuss solar’s contribution to EU’s 2050 climate and energy strategy.
Jenny Chase, Head of Solar at Bloomberg NEF, said in her presentation on ‘Solar Developments in Europe until 2050’:”As the lowest cost and most easily deployed clean energy technology, solar will clearly dominate power generation in the long-term. In our New Energy Outlook, we anticipate that in a scenario reaching around 87% renewables in Europe in 2050, solar will have a 36% share equal to 1,400 GW.”
Prof. Christian Breyer presented the findings from a study by the Lappeenranta University of Technology (LUT) and the Energy Watch Group (EWG), which models a global energy system based on 100% renewable energy by 2050. Among the key findings is that solar will become the dominant source of energy by 2050, due to further cost-reductions and increased demand stemming from the electrification of the energy system.
“According to our 2050 scenario, solar will provide nearly 2 TWp of power generation in Europe, of which nearly 700 GW will be utility-scale and nearly 1.3 TW rooftop solar PV. This renewable power system would be backed by around 3.6 TWh of battery storage. In 2050, solar PV will account for a staggering 69% of the total electricity mix globally,” said Prof. Christian Breyer.
Michael Schmela, Executive Advisor and Head of Market Intelligence at SolarPower Europe commented, “This is very good news from leading solar researchers, and comes at the right time as the Commission is finalising its climate strategy for 2050. There is more good news which is that the recent removal of the solar trade duties have made solar even more affordable in the EU and as a result we expect an increase in solar deployment in Europe. More than ever before, solar is ready to play a leading role in Europe’s energy transition as the lowest-cost clean energy technology.”
The new EU 2050 climate and energy strategy will be unveiled at COP24 in Katowice, Poland.