FAQ on ERENE
- Will ERENE create a new European institution?
No, ERENE will not create a new institution. ERENE aims at a new treaty establishing a European Community for Renewable Energy; alternatively, it could be established as an enhanced cooperation project. In both cases, the existing European institutions would be responsible for implementing ERENE.
- How much would ERENE cost and how could it be financed?
It is not yet possible to quantify how much ERENE would cost; however, it is clear that costs are involved. One option for counter financing would be the revenues from EU emissions trading, which will generate billions of Euros Europe-wide starting in 2013. It would also be a logical solution to use the revenues from trading CO2 emission allowances to lower CO2 emissions involved in electricity generation. In addition, the electricity infrastructure would need to be renewed over the coming years in any case, meaning that some of the costs would arise anyway.
- How reliable is the renewable energy supply, given that the sun doesn’t always shine and the wind doesn’t always blow?
With a Europe-wide electricity grid, the different energy sources that exist in Europe will be able to supplement each other. When the wind drops on the German North Sea coast, Germany can get its electricity from Polish biomass or Swedish hydropower. When the sun stops shining in Italy, Spain can supply Italy with solar electricity.