Here’s how solar energy saved Europeans $29 billion this summer

The record 99.4 TW hours the EU generated in solar electricity this summer meant it didn’t need to buy 20 billion cubic metres of fossil gas.

Solar power is helping Europe navigate an energy crisis of “unprecedented proportions” and save billions of euros in avoided gas imports, a new report finds.

Record solar power generation in the European Union this summer helped the 27-country grouping save around $29 billion in fossil gas imports, according to Ember, an energy think tank.

With Russia’s invasion of Ukraine severely threatening gas supplies to Europe, and both gas and electricity prices at record highs, the figures show the critical importance of solar power as part of Europe’s energy mix, the organization says.

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Source: World Economic Forum

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