The study Energy (R)evolution for the Canary Islands that was commissioned by Greenpeace Spain and Greenpeace International estimates total investment costs for a 100% RE scenario to be €20bn ($21.9bn) by 2050. That is offset by a saving of €42bn in fossil fuel resources for the same period, the study claims.
"According to our calculations, the money saved from not having to purchase oil would cover the entire investment and also allow the construction of additional supporting infrastructure, such as energy storage systems and power networks, for example," summarised DLR researcher Sonja Simon.
