Fighting climate change:
A structural shift towards renewable energies requires concerted policy action
The Finnish Institute of International Affairs
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Renewable energies will be the major contributor to any future low carbon energy system and the share may be as high as nearly 80% of the world’s energy supply by 2050.
Renewable energies have vast potential but require a set of coherent policies to reach necessary deployment rates, because the market place neither accounts sufficiently for their climate change-related and wider benefits nor for the benefits of technological learning, making them appear less competitive than they really are.
Renewable energies can be integrated in all supply systems and end-use sectors but at some point they will require investment and change. In electricity, an enhanced Pan-European network infrastructure (smart grid) would smooth variability and the remaining non-renewable generation capacity would be highly flexible.
Energy security would be enhanced by greater efficiency and a broader and less import-dependent energy portfolio with less vulnerability to energy price volatility. Network stability needs to be addressed but some renewable energies are fully dispatchable and part of the solution.
The transition to renewable energies is possible and beneficial, not only due to climate change but also because it serves energy security concerns and necessary infrastructure improvements. The EU’s proposed long-term strategy concerning emission reductions and competitiveness, as well as the related legislation, is moving in the right direction and it is up to the member states to pick this up and push it forward.