The EU is committed to achieving at least a 20% reduction in greenhouse gas emissions (compared to 1990 levels) by 2020 and at least a 40% reduction by 2030. The power sector is a global leader on the pathway towards decarbonisation and has committed to deliver carbon neutral electricity supply by 2050. According to the European Environment Agency, the share of RES in Europe is growing fastest in the power sector.
Low-carbon technologies produced more than half of the EU electricity in 2014 for the third year in a row.
The price of EU ETS carbon allowances has been increasing slowly and gradually since mid-2013, and has reached a level above €8, following the lowest price of €2.7 registered in April 2013.
Electric Vehicles (EVs) will have a strong role to play in achieving the objectives under the European decarbonisation agenda. Since 2010, annual new electric car registrations have increased significantly in the EU, but the market share of new electric vehicles registration remains very low, at 0.7% of all vehicle registrations in Europe in 2014.