According to a survey of global utility companies and energy firms conducted by Renewable Energy World Europe, the power industry is at odds over whether the EU can achieve its 20-20-20 targets, which calls for renewables accounting for 20 percent of its total by 2020. The survey found that 44 percent of respondents believe the EU will fail to meet its targets, with an equal number of respondent saying that it is too early to tell.

Over 60 percent of respondents said technical innovation was the most important factor to the continued development of renewables in Europe. Emerging technologies such as wave and tidal energy systems will potentially rival wind power as a key source for renewable energy. The Carbon Trust estimates that the UK could achieve 15% of its electricity needs by harnessing wave power alone.

Interestingly, over half of of the respondents participants agreed that wave power will play a significant role in the future for European renewables and yet governments have mostly steered clear of investing because wave power is considered a high risk technology.

David Appleyard, conference director for Renewable Energy World Europe believes the EU must drive toward further investment in renewable technologies if it is to achieve its 20-20-20 targets. “The survey underlines the importance of innovation, yet many of the EU member countries are struggling to meet their targets due to their lack of investment in renewables. There needs to be a greater commitment to the development and installation of renewables across Europe, and with more investment, the EU could smash its 2020 targets.” 

The results of the survey were published in advance of Renewable Energy World Europe 2011, Europe’s leading renewable energy conference and exhibition, which is being held at Fiera Milano City in Milan, from June 7 -9.

POWER-GEN Europe, Renewable Energy World Europe, and Nuclear Power Europe are owned and organized by PennWell Corporation, which provides business intelligence through 45 print and online publications, and over 60 conference and exhibitions, research, databases, Internet-based services and other information products to strategic global markets. For more information, visit www.pennwell.com.

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