Making transition work - Wind Europe

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2. ENERGY SECTOR MEGATRENDS The global energy sector is in the biggest transformation it has seen since the discovery of hydrocarbons. This transition will accelerate in the next decade as a result of the worldwide commitment to mitigate climate change after the Paris Agreement. There are four trends in this evolution of the European power system and wind energy is at the heart of all four of them: 1. Transition from fossil fuels to renewables; 2. Wind energy markets changing within Europe; 3. Global wind energy markets transition at a faster pace; 4. Falling costs of renewables. FIGURE 1 GHG emissions and GDP in the EU 5,000 2.1 TRANSITION FROM FOSSIL FUELS TO RENEWABLES The energy transition is in motion in the EU. Today Europe demonstrates that decoupling Green House Gas Emissions (GHG) and economic development is possible. Its Gross Domestic Product (GDP) grew 45% since 2007 whereas GHG emissions decreased by 14%. Even after the global economic slowdown in 2009, the EU’s growth continued while emissions flattened 1 . This result would not have been possible without initiating the decarbonisation of the power sector, which alone is responsible for over one third of all CO 2 emissions in the European Union 2 . Whilst the economic recession contributed to substantial emissions reduction 25 GHG Emissions (Mt CO2 equivalent) 4,800 4,600 4,400 4,200 4,000 20 15 10 5 GDP (€bn) 3,800 2007 2008 2009 2010 2011 2012 2013 - GHG Emissions GDP Source: Eurostat 1. “Decoupling of global emissions and economic growth confirmed”, 16 March 2016, available at https://www.iea.org/newsroomandevents/pressreleases/2016/march/decoupling-of-global-emissions-and-economic-growth-confirmed.html 2. CO 2 emissions by the power sector amounted to 1,216 Mt in 2013, over a total of 3,291 Mt. World Energy Outlook 2015, International Energy Agency, p. 606 Making transition work WindEurope 11
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