Competitiveness of the heating and cooling industry and services Part 2

22-08-2019
European Union
Competitiveness of the heating and cooling industry and services Part 2

This report constitutes the second part of a larger Study on the “Competitiveness of the Renewable Energy Sector”, conducted by COWI and CEPS for DG ENER of the European Commission. The report focuses on the impact of corporate sourcing of renewable energy on the competitiveness of the European industry. European companies rely on renewables to meet their energy needs for three main reasons: i) strengthening their competitive advantage and increasing their demand, as consumers' choices are increasingly driven by sustainability considerations; ii) attracting more capital, as investors are growingly concerned about the environmental footprint of their investments; and iii) improving their cost competitiveness, as renewables may reduce energy costs. At the same time, EU companies face some barriers when trying to source renewables. Many barriers are addressed by the new 'Clean Energy for All Europeans’ package; others will require additional measures. The report also estimates the potential impacts of corporate sourcing of renewables on the EU economy. Should EU-based industrial and commercial companies commit to source renewable electricity to meet 30% of their total demand of electricity by 2030, the EU renewable energy sector could generate more than €750 billion in gross added value and above 220,000 new jobs.