Europe must urgently accelerate electrification to strengthen energy security, cut costs and meet climate goals, states a new report by Schneider Electric
The study, Europe energy security and competitiveness – supercharging electrification, warns that Europe’s electrification rate has stagnated at just 21% for the past decade – 10% behind China – leaving the continent exposed to high energy prices and fossil fuel depconcludeence.
The report finds that rapider electrification could save €250 billion annually by 2040.
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