Europe can abandon fossil fuels and establish a self-sustaining energy sector by spending nearly 2 trillion euros ($2.1 trillion) on solar, wind, and other renewables by 2040, a new study shows.
According to the study, released by the Potsdam Institute for Climate Impact Research, the continent needs annual investments of 140 billion euros until 2030 and then 100 billion per year in the decade following to achieve this. While the bulk of this will need to be channeled to the expansion of onshore wind farms, solar, hydrogen, and geothermal resources will serve as additional pillars of a strategy that will help generate Europe's electricity needs exclusively from renewable energy sources by 2030.
Source (Al-Arabiya.net Website, Edited)
