Double climate investment to meet EU 2030 goals: I4CE

Market: Electricity
21/02/24

Meeting the EU's 2030 climate targets requires a doubling of real-economy investments across the energy, buildings and transport sectors, a study by think-tank the Institute for Climate Economics (I4CE) published today found.

Combined public and private investment of €813bn/yr is needed over 2024-30 to deliver the climate measures for energy, buildings and transport designed to meet the EU's 2030 target to cut its net greenhouse gas (GHG) emissions by 55pc compared with 1990 levels, the I4CE study found.

This will require €406bn/yr of additional investment, as investment stood at €407bn in 2022 according to I4CE calculations. The figure is a "strict minimum" given the exclusion of sectors such as industry because of data gaps, I4CE emphasised.

Of 22 sectors deemed "critical" to the transition by the think-tank, 20 fell short of required investment levels in 2022. The largest deficit was in passenger battery electric vehicle (EV) investment, which needs to increase by €79bn/yr, followed by electricity grids at €42bn/yr. Closely behind were onshore wind, which needs a €41bn/yr increase in investment, and "medium" — as opposed to "deep" — residential building renovation at €40bn/yr.

At the other end of the scale, marine energy requires only €0.6bn/yr of further investment and new non-residential buildings' energy performance €3bn/yr, while EV charging points, light commercial plug-in hybrid EVs, and new residential building' energy performance need €4bn/yr each.

The two sectors already surpassing annual investment needs in 2022 were hydropower and battery storage, I4CE found.

Overall, the seven transport categories studied required the largest total increase in investment at around €147bn, followed by €137bn across the eight building categories and €122bn for the seven energy sector areas examined.

Further EU funding will likely be needed as part of efforts to close these investment gaps, the study found, both for areas "by nature dependent on a degree of EU-level funding" such as trans-European infrastructure, and more generally given that the bloc's climate funding is falling with the winding down of the temporary NextGenerationEU instrument, set up to help the region recover from the economic impact of the Covid-19 pandemic.

By Victoria Hatherick

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11/06/25

EIA raises US 2026 renewables outlook

Houston, 11 June (Argus) — The US renewable energy fleet remains on track to provide an increasing portion of the country's total electricity over the next two years, even with some changes in the US Energy Information Administration's (EIA) latest projections. Renewable energy is on track to supply almost 1.1bn MWh in 2025 and 1.2bn MWh in 2026, enough to account for roughly 25pc and 27pc of all US generation in those years, EIA said Tuesday in its monthly Short-Term Energy Outlook report. The 2025 estimate is less than 1pc lower than the agency's forecast in May, while the 2026 outlook is about 2pc higher. Renewables in 2024 generated almost 948mn MWh, about 23pc of all US generation. EIA attributes the higher share from renewables to projects coming on line through the end of 2026. The agency expects developers to add about 32,500MW of utility-scale solar to the grid this year, which would surpass the record high of 30,000MW in 2024. EIA anticipates about 7,700MW of new capacity from the wind sector this year. Wind capacity in 2024 expanded by about 5,100MW, its lowest showing since 2014. The month-over-month change in the larger renewables outlook corresponds with higher expectations for wind and solar generation next year. Wind farms are now on track to provide about 506mn MWh in 2026, while utility-scale solar farms will generate around 350mn MWh, each about 2pc higher from May's outlook. If the solar projection bears out, it would surpass hydropower in 2025 as the second most prevalent form of renewable generation in the US. In the Electric Reliability Council of Texas (ERCOT) territory, EIA expects non-hydropower renewable generators are on pace to supply nearly 179mn MWh in 2025, down by less than 1pc from last month's outlook. But the 216mn MWh now anticipated from the sector in 2026 marks an almost 10pc increase from May's predictions for the Texas grid. EIA's lowered its predictions for non-hydropower renewables in the New York Independent System Operator's footprint by less than 1pc for 2025 and by 4pc for 2026, to 11.5mn MWh and just under 13mn MWh, respectively. Revisions to other regional forecasts were minimal. EIA increased its expectations for non-hydropower renewables in the areas managed by the PJM Interconnection, ISO-New England and Midcontinent Independent System Operator by less than 1pc for both 2025 and 2026. Renewable energy resources for EIA's purposes include conventional hydropower, wind, solar projects larger than 1MW, geothermal and certain forms of biomass. By Patrick Zemanek Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Possible French nuclear reactor defects found: Update

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11/06/25

Possible French nuclear reactor defects found: Update

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Possible defects found in French nuclear reactor: ASNR

11/06/25

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11/06/25

Possible defects found in French nuclear reactor: ASNR

London, 11 June (Argus) — France's EdF has detected possible defects in piping at the 1.5GW Civaux 2 reactor, according to nuclear safety authority ASNR. Tests revealed two "signs" — typically echoes from ultrasound testing — that could indicate a defect, ASNR said. The tests — part of its strategy to treat stress corrosion — are continuing. ASNR said there is no confirmation at this point that the potential faults are evidence of stress corrosion. Stress corrosion is a process by which mechanical stress in the presence of certain chemicals leads to fissures in pipework. The French reactor fleet was heavily affected by this condition in 2021-23, with around a third of the fleet taken off line for inspections and repairs. Civaux 2 is an N4 reactor — there are two at Civaux and another two at Chooz. They were the last reactors built before Flamanville 3, entering service in 2000-02, and the most powerful built in France up to that time. Civaux 2 has been off line for maintenance since 5 April and is scheduled to return on 31 July. It was being defuelled for maintenance and inspection and tests, before having a third of the fuel switched out. The 1.5GW Civaux 1 was the first reactor where stress corrosion faults were discovered, in August 2021. Tests at the other three N4 models in the following months confirmed stress corrosion at all of them. The N4 models — along with a dozen 1.3GW P4 reactors — are particularly vulnerable to stress corrosion, EdF's nuclear and thermic director, Cedric Lewandowski, told a parliamentary commission in 2022. The French power curve rose sharply on Wednesday morning following reports of the possible defects on Tuesday evening. The front-year contract jumped from an assessment of €62.30/MWh yesterday to over €68/MWh in the morning, before falling to around €66/MWh by mid-afternoon. By Rhys Talbot Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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Climate Group publishes guidance on granular EACs

11/06/25

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11/06/25

Climate Group publishes guidance on granular EACs

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