Electrification powered by renewables is an unprecedented opportunity
to foster a clean energy transition: it is the way to an affordable, reliable and zero emissions energy system. For example, the European Union is on a path to achieve electrification on both on supply and the demand side by combining technological advances with climate investments supported by the EU Recovery Plan. Electrification also ensures a more stable and resilient energy system, reducing dependency on energy imports and generating substantial savings thanks to higher efficiency. For example, electric vehicles are three to five times more energy efficient than internal combustion engine vehicles that run on fossil fuels. According to the World Economic Forum
, electrification is critical for decarbonization. Today electricity makes up 19% of total final energy consumption, however this figure has the potential to grow massively in future. To reap the full benefits of electrification, it is crucial to accelerate the transition from fossil fuel to emission-free generation, because decarbonized electricity is the best candidate to forge the path towards zero emissions.