EU Can Cut Gas Demand by One-Quarter with Solar and Wind Expansion
A new report by the Institute for Energy Economics and Financial Analysis (IEEFA) reveals that if the European Union meets its solar and wind deployment targets, it could cut gas demand by around one-quarter by 2030. This saving is equivalent to twice the volume of liquefied natural gas (LNG) the EU could import from Qatar by 2030.
Between 2021 and 2025, the EU recorded an 84% increase in imports of LNG. The IEEFA highlights that expanding wind, solar power, and heat pumps is the most effective way to reduce LNG dependence. It estimates the EU would need to install at least 4 million heat pumps, 75 gigawatts (GW) of solar, and 22 GW of wind annually over the next five years to meet those targets.
Scaling up clean energy technologies alongside grid investment will help the EU achieve its new 2040 electrification target. The report also highlights that between 2021 and 2024, the EU reduced its gas demand by 78.5 billion cubic meters, equivalent to a 20% decline. This reduction is attributed to the deployment of renewables and heat pumps, combined with gas demand reduction policies.