European renewable energy targets expensive
Making renewable energy 20% of total energy consumption in the 27 countries of the EU will require an investment of €1.8 to €22 trillion over the next decade depending on the type of renewable technology. In practical terms, that will mean building more than a million windmills or installing enough solar panels to cover an area twice the size of Belgium.
This is the major conclusion of a new report by PricewaterhouseCoopers, 'Crisis or Not: Renewable Energy is Hot.' The report predicts that the renewables market will flourish despite the economic crisis. At the same time, the sums required to reach the EU targets are 'staggering', says PWC.
You can download the report here.