A new study commissioned by a low-carbon investment company claims that Europe can wean itself off fossil fuels for a total price of $2.1 trillion.
A study commissioned by a low-carbon investment company has claimed Europe can wean itself off oil, gas, and coal and go full wind and solar for a total price of some $2.1 trillion, equal to 2 trillion euros. According to the authors, led by the Potsdam Institute for Climate Research in Germany, the annual investment would come in at some 140 billion euros between now and 2030, and 100 billion euros after 2030.
1 trillion estimated to be needed for Europe’s shift would go into building more wind and solar power generation capacity, as well as hydrogen production capacity and the development of geothermal resources.
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