Schneider urges Europe to electrify

electrification-asset

Europe must urgently accelerate electrification to strengthen energy security, cut costs and meet climate goals, says a new report by Schneider Electric

The study, Europe energy security and competitiveness – supercharging electrification, warns that Europe’s electrification rate has stagnated at just 21% for the past decade – 10% behind China – leaving the continent exposed to high energy prices and fossil fuel dependence.

The report finds that faster electrification could save €250 billion annually by 2040.

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