The WWF reports on a ground breaking study by McKinsey telling us that it is possible for Europe to be completely powered by renewable energy: “By 2050 the European power sector could be free of carbon emissions, and this new study is supported by WWF. The report states that a 100% renewable electricity system would be as reliable as our power system today and would reduce Europe’s fossil fuel import costs.”
Commissioned by the European Climate Foundation (ECF) in consultation with many large electricity companies and other organisations, the study shows that a 100% renewable electricity supply would only be 5 — 10% more expensive than other low-carbon options considered in the study, without the risks posed by nuclear energy and fossil fuels, making it overall the best option.
The conclusion of the report does not come by surprise. However, the fact that McKinsey supports it is good news indeed, as it has the influence and connections to act as a link between academia and the business world. The report might help the top managers of leading energy companies to change realize how imminent a change of attitudes and strategies really is.
Picture credit: permanently scatterbrained