2030 EU energy efficiency target: The multiple benefits of higher ambition
New report aims to inform the Coalition for Energy Savings’ analysis and input to the ongoing Energy Efficiency Directive (EED) trilogue negotiations.
The study provides estimates of the multiple benefits of energy savings for European citizens and the economy that are associated with different levels of the 2030 EU energy efficiency target.
Results suggest that more ambitious energy efficiency targets deliver greater benefits to European citizens.
Higher energy efficiency targets are expected to lead to improved energy security (through decreasing fossil fuel imports), higher GDP, lower household energy and transport expenditure, and contribute to overall climate goals through mitigating emissions.
The three energy efficiency target scenarios that will be discussed during the EED trilogue negotiations were modelled:
- Minimum Efficiency – 9%
- REPowerEU Efficiency -13%
- Enhanced Efficiency – 14.5% respectively (compared to PRIMES Reference Scenario 2020).
The analysis shows that the greatest impacts are associated with the Enhanced Efficiency scenario, which is characterised by an energy efficiency target of 14.5%.
In particular, the study found that a 14.5% target in 2030 would deliver the following benefits:
- A reduction on average of households’ expenditure for energy by 10.3% and for transport by 8.5% in 2030, which would equal to saving 120 billion euros in energy and transport expenditures for the whole EU.
- A lowering of the EU spending on fossil fuel imports by 12.2% in 2030, leading to about 38 billion euros saved.
- A reduction of the EU’s GHG emissions by an additional 12.2 % in 2030 (about 315 MtCo2eq in absolute terms).
- The creation of 752 000 jobs in 2030 (an increase of 0.4% of the economy-wide employment rate).
- An increase of the EU’s Gross Domestic Product by 0.6% in 2030, which represents the creation of 94 billion euros in monetary wealth.