Although the EU is a net importer of batteries used in photovoltaics, it has also developed some potential for battery cell manufacturing. As of 2023, the EU had a total battery cell manufacturing capacity of 204 gigawatt hours (GWh), which was just slightly less than the demand of 210GWh for electric vehicles and energy storage systems. This indic

The growth in the EU’s renewable potential and the prospects for further expansion of this sector are dependent on the development of clean technologies such as wind turbines and solar panels. The EU remains heavily dependent on imports for clean technology and its components, but it has also developed some potential of its own in this field The

Crucially, this reduction in emissions has been accompanied by a decrease in wholesale energy prices in the EU. One IMF analysis found that, between 2014 and 2021, every 1 per cent increase in the proportion of electricity generated from solar and wind power translated into an 0.6 per cent average drop in wholesale electricity prices in Europe (24

The EU’s progress on renewables has already contributed to a decrease in its carbon footprint. In 2023 the EU’s carbon emissions reached their lowest level in 60 years. This was thanks in part to a record drop in emissions from the electricity sector (157m tonnes or 19 per cent year on year). But the emissions intensity of the electricity secto