Desert renewables plan 'would cut EU's power bill by $42bn'

The study points to the cost savings of producing renewable power in the desert

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By Karl-Erik Stromsta London

 Thursday, June 21 2012

Updated: Monday, November 26 2012

Europe would save €33bn ($41.9bn) a year on its power bill by 2050 by moving towards the bulk importation of renewable power from the Middle East and North Africa (MENA), a new study claims.

Under such a system, the EU and MENA regions would collectively source more than 90% of their electricity from renewables. The MENA area would acquire an export industry worth €63bn a year – more than the current exports of Egypt and Morocco combined.

The report, published by the Desertec Industrial Initiative (DII) in conjunction with Germany’s Fraunhofer Institute, makes two large assumptions.

The first is that both the EU and MENA will “fully optimise” their renewables potentials by 2050, regardless of whether the Desertec programme goes ahead.

The second is that the…

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