European energy sector

Răzvan Gh. V. Ionescu

Chapter 58 in Elgar Encyclopedia of Energy Economics, 2025, pp 221-222 from Edward Elgar Publishing

Abstract: The modern European energy sector is a dynamic landscape of diverse energy sources, evolving technologies, and ambitious policies. Historically dominated by fossil fuels, recent years have seen a shift towards renewable energy, positioning Europe as a global leader in green energy adoption. The European Green Deal aims to transition the continent away from fossil fuels and make it carbon-neutral by 2050, necessitating significant investments in renewable sources like hydropower, wind, and solar. The European Union has committed to mobilizing one trillion euros for sustainable investments through the European Green Deal Investment Plan, targeting three main objectives: supporting sustainable investments, creating a facilitative framework, and aiding public administrations. Despite challenges, including climate change and energy security, Europe's renewable energy future appears promising, with potential benefits like reduced emissions, improved air quality, and economic growth. As Europe strives towards decarbonization, the imperative to combat climate change underscores the continent's determination to embrace renewable energy and build a sustainable future.

Keywords: European Energy Sector; Industrial Revolution; Green Energy; Sustainable Development; Climate Change; Decarbonization (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035310364
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