Wind and solar growth save €12 billion since Russia invaded Ukraine

Since the start of the war in Ukraine, the EU saw a record increase in wind and solar generation, which together provided 23% of total electricity. This growth saved the EU €12 billion in avoided gas costs and contributed to a significant drop in Russian gas import reliance, from approximately 40% before the invasion to 16% in the period analyzed.

• Wind and solar generation in the EU reached a record 546 TWh in the year following the invasion of Ukraine, representing a 50 TWh (10%) increase compared to the 2021-22 period. For the first time, the combined share of wind and solar (23%) exceeded the share of gas power (19%) in total EU generation.
• The 50 TWh increase in wind and solar generation reduced the gas required for electricity by 90 TWh (9 bcm), resulting in €12 billion in avoided gas costs based on average TTF day ahead prices. Without the total 546 TWh of wind and solar generation, the EU would have needed an additional 993 TWh (94 bcm) of gas, costing €135 billion.
• EU reliance on Russian gas imports dropped from approximately 40% before the invasion to 16% in the period analyzed. While total gas imports decreased by only 5% (19 bcm), imports specifically from Russia plummeted by 60% (82 bcm).
• The energy crisis led to the REPowerEU proposal, which aims to double solar capacity by 2025 to meet a 45% renewable energy target for 2030, with an expectation of 69% renewable electricity by that date.

APA

Brown, S. (2023). Wind and solar growth save €12 billion since Russia invaded Ukraine. Ember. https://ember-energy.org/app/uploads/2024/10/Wind-and-solar-growth-save-E12-billion-since-Russia-invaded-Ukraine.pdf

Chicago

Brown, Sarah. Wind and solar growth save €12 billion since Russia invaded Ukraine. Ember, 2023. https://ember-energy.org/app/uploads/2024/10/Wind-and-solar-growth-save-E12-billion-since-Russia-invaded-Ukraine.pdf.

Wikipedia

{{cite report |last1=Brown |first1=Sarah |title=Wind and solar growth save €12 billion since Russia invaded Ukraine |publisher=Ember |date=22 February 2023 |url=https://ember-energy.org/app/uploads/2024/10/Wind-and-solar-growth-save-E12-billion-since-Russia-invaded-Ukraine.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{brown2023wind, author = {Brown, Sarah}, title = {{Wind and solar growth save €12 billion since Russia invaded Ukraine}}, institution = {Ember}, year = {2023}, month = feb, url = {https://ember-energy.org/app/uploads/2024/10/Wind-and-solar-growth-save-E12-billion-since-Russia-invaded-Ukraine.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }