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

An analysis by Ember reporting that wind and solar growth in the EU saved €12 billion in avoided gas costs in the year following Russia's invasion of Ukraine, while helping the EU reduce its reliance on Russian gas imports from 40% to 16%.

• Between 1 March 2022 and 31 January 2023, wind and solar generation in the EU increased by 50 TWh (+10%) compared to the same period in 2021-22, reaching a total of 546 TWh. This growth resulted in a reduction of gas required for electricity generation by 90 TWh (9 bcm), avoiding gas costs of €12 billion based on the average TTF day ahead price.
• For the first time, wind and solar accounted for a larger share of total EU electricity generation (23%) than gas power (19%) since the start of the war. This record generation helped fill gaps caused by plant closures and drought-related shortfalls in nuclear and hydro generation.
• The EU's dependence on Russian gas imports dropped from approximately 40% prior to the invasion of Ukraine to 16% since the war began. While total gas imports decreased by 5% (19 bcm), imports specifically from Russia plummeted by 60% (82 bcm), with 54 bcm of the 330 bcm total imports coming from Russia.
• In response to energy security risks and the cost of living crisis triggered by gas prices reaching €313 / MWh, the European Commission's REPowerEU proposal aims for 69% renewable electricity by 2030 and intends to double solar capacity by 2025 under a 45% renewable energy target for 2030.

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} }