Siemens study: Europe can save EUR 45 billion in its pursuit of renewables

Siemens has analyzed the electrical power producing systems across Europe and identified considerable potential for optimization, especially in connection with plans to expand power generation from renewable energy sources. The crux lies in the choice of location: If installations were built at the sites in Europe that offer the highest power yields, some EUR 45 billion of investment in renewables could be saved by 2030. This figure already includes the associated extension of the power grid. As a comparison: around EUR 10 billion were invested in new solar and wind power generating installations in Germany in 2012. Potential savings on a magnitude of 4-5 times the annual investment in solar and wind power plant construction in Germany are possible.

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