Did you know that electrification and flexibility could enable us to make a real step in energy transition? Additionally, increasing photovoltaic deployment would drive the decarbonization of the economy, cutting emissions by over 550 million tons of CO2 (MtCO2) per year by 2040, compared to current projections.

This is the conclusion of a study conducted by the SolarPower Europe association, which highlights that, in addition to benefits for consumers and plant developers, electrification and system flexibility would lead to cost savings at the system level. Namely:

• € 30 billion a year by 2030
• € 160 billion a year by 2040

Moreover, with a flexible and electrified system, by the end of this decade, the EU could achieve 1.2 TW of installed PV capacity, significantly surpassing the 750 GW target set by the EU solar strategy. This would result in a cumulative 2.4 TW of PV by 2040, meeting 39% of the Union’s increasing electricity demand.

The path is mapped out, and with well-defined goals from European leadership, accurate energy system modeling, and targeted investment, we could truly make a difference.