BAKU, Azerbaijan, June 22. Renewable energy sources cannot greatly help compensate for the reduced Russian energy supplies to the EU, Ben McWilliams, Research Analyst at Bruegel, a European think tank specializing in economics, told Trend.
“Renewables are certainly the long-term and structural answer. The most recent communication from the European Commission (RePowerEU) details ambitious plans for scaling up renewable generation capacity in the EU, which can substitute a large share of gas molecules,” McWilliams said.
However, as the expert noted, renewables are large capital investments and take months or years to build, meaning in the very short-run, additional renewable capacity cannot substitute for the lack of Russia’s energy supplies.
“Measures for energy efficiency of buildings and in industry are also key to reduce energy demand in the mid-to-long run, while energy conservation, such as turning thermostats one degree down in winter, can play an immediate role in alleviating supply shortages,” he added.
As for the alternative gas markets for Europe, McWilliams noted that the EU can look to pipeline imports from Norway, North Africa, Azerbaijan as well as via interconnectors with the UK.
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