Europe’s electrification ambitions are running ahead of its policies. The EU wants electricity to account for 46% of final energy consumption by 2040, but BNEF’s modeling suggests even a maximum-effort net-zero pathway would fall short. Getting closer will require greater support for electric vehicles, heat pumps and industry, while keeping electricity affordable. Much of that challenge will fall to member states, many of which are scaling back incentives or facing tight public finances. Meanwhile, the EU’s latest proposals do little to address the upfront costs of electrification. So what will it take to close the gap between Europe’s electrification targets and reality? On today’s show, Kamala Schelling is joined by BNEF’s head of policy, Victoria Cuming, to discuss her note “EU Electrification Goal Unreachable Without More Support.”

Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF<GO> on the Bloomberg Terminal or on bnef.com

Links to research notes from this episode:

EU Electrification Goal Unreachable Without More Support - https://www.bnef.com/analyst-reactions/tibg16t9njlt00

Europe&rsquo;s electrification ambitions are running ahead of its policies. The EU wants electricity to account for 46% of final energy consumption by 2040, but BNEF&rsquo;s modeling suggests even a maximum-effort net-zero pathway would fall short. Getting closer will require greater support for electric vehicles, heat pumps and industry, while keeping electricity affordable. Much of that challenge will fall to member states, many of which are scaling back incentives or facing tight public finances. Meanwhile, the EU&rsquo;s latest proposals do little to address the upfront costs of electrification. So what will it take to close the gap between Europe&rsquo;s electrification targets and reality? On today&rsquo;s show, Kamala Schelling is joined by BNEF&rsquo;s head of policy, Victoria Cuming, to discuss her note &ldquo;EU Electrification Goal Unreachable Without More Support.&rdquo;
Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF&lt;GO&gt; on the Bloomberg Terminal or on&nbsp;<a href="https://www.bnef.com/">bnef.com</a>
Links to research notes from this episode:
EU Electrification Goal Unreachable Without More Support - <a href="https://www.bnef.com/analyst-reactions/tibg16t9njlt00">https://www.bnef.com/analyst-reactions/tibg16t9njlt00</a>

The future of energy, transport, sustainability and more, as told by BNEF analysts. Each week, Dana Perkins and Tom Rowlands-Rees sit down with BloombergNEF (BNEF) analysts to uncover the key findings and stories behind their latest research.

The future of energy, transport, sustainability and more, as told by BNEF analysts. Each week, Dana Perkins and Tom Rowlands-Rees sit down with BloombergNEF (BNEF) analysts to uncover the key findings and stories behind their latest research.

The future of energy, transport, sustainability and more from Bloomberg analysts

Switched On

EU Electrification Push Lacks Pull: Analyst Reaction

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/2fac3e8b-0690-47e9-8a4c-b4a900855bdf/transcript