According
to
the
report,
entitled
RE-thinking
2050,
to
do
this
would
involve
total
cumulative
renewable
energy
investments
of
€1.62
trillion
by
2030
and
€2.8
trillion
by
2050.
However
EREC
says
that
“the
important
fact
to
note
is
that
higher
upfront
investment
needs
for
renewable
energy
do
pay
off
in
the
long-run”
because
of
the
avoided
fossil
fuel
and
CO2
costs.
Reaching
the
target
would
allow
the
EU
to
avoid
fossil
fuel
costs
of
over
€1
trillion
in
2050.
In
addition,
the
EU
would
be
able
to
reduce
its
energy
related
CO2
emissions…
