The continent has set ambitious goals for reducing carbon emission
On a cold, dark afternoon in the United Kingdom in January 2013, a storm arrived from the North Sea. Windmills spun harder and harder, producing more and more energy—and then suddenly stopped as wind speed reached the level at which safety systems halt production. As a result, energy output went from the theoretical maximum to zero within hours.
But no one noticed. There were no headlines about London in the dark. The system responded as designed—first, by reducing, and then by rapidly increasing gas-fired power generation.
This smooth switch between energy sources did more than keep the lights on. It provided a glimpse of what policymakers envision as Europe’s lower-carbon energy future. It is a future filled with promise but also potholes as the continent seeks to reduce its 2050 carbon emissions to 80 to 95 percent less than its 1990 level. That means 80 percent or more of power generated in the European Union must come from wind, solar, and other noncarbon sources. An interim goal, proposed in January 2014 and under consideration by the European Commission, would reduce carbon emissions by 40 percent from their 1990 level by 2030.
See full Article: http://www.imf.org/external/pubs/ft/fandd/2014/03/varro.htm
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