Study: Stronger policy drive needed for green alternatives to replace Russian gas by 2028

(EurActiv, 9 May 2023) While it would be possible and beneficial for Europe to replace Russian fossil gas supplies with green alternatives by 2028, it will require significant investment, upskilling and policy improvements, according to a study by the Oxford Sustainable Finance Group.

The report, titled ‘The Race to Replace: the economics of using renewables to free Europe from Russian gas’, weighs up the costs and benefits of entirely replacing pre-war levels of Russian gas imports with green alternatives in the next five years.

According to the analysis, this would help Europe reach its climate goals, improve energy security and aid the EU industry. But it is out of reach if Europe fails to put the correct drivers in place, it warns.

“It is entirely possible to replace Russian natural gas with green technologies by 2028,” reads the report, but “this will require a more conducive policy environment, including faster permitting for renewable electricity, diversified and secure supply chains, widespread weatherisation of facilities and a supportive subsidy and financing ecosystem”.

“Our key finding is that policymakers, by enacting and implementing plausibly ambitious policies, can replace Russian gas in electricity and heating in the next five years and simultaneously achieve the twin goals of energy security and climate mitigation in an expedited manner,” it adds.

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EurActiv, 9 May 2023: Study: Stronger policy drive needed for green alternatives to replace Russian gas by 2028

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