EU energy grid funding must double: think-tank

[OKIsItJustMe]

http://www.reuters.com/article/2011/11/07/us-eu-power-idUSTRE7A607K20111107

EU energy grid funding must double: think-tank

BRUSSELS | Sun Nov 6, 2011 8:06pm EST

(Reuters) - European Union nations must nearly double investment in power grid building in the decade after 2020 if it is to get on the path to carbon-free electricity by the middle of the century, think-tank the European Climate Foundation (ECF) said on Monday.

The European Commission raised the goal of virtually emissions-free electricity in its 2050 road map toward a low carbon economy, published earlier this year, as the means to achieve an 80-95 percent cut in carbon scientists say is needed by then to stave off the worst effects of global warming.

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Already to meet 2020 goals to cut carbon by 20 percent and increase the share of renewable energy to 20 percent, member states need to increase transmission lines by 14 percent, or 42,000 kilometers (26,097.6 miles), at a cost of 628 billion euros ($872.7 billion) over this decade.

For the next 10 years, the cost climbs to 1.2 trillion, said the ECF's report -- Power perspectives 2030: on the road to a decarbonized power sector in Europe.

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