Fig. 2: Economic assessment of renewable electricity, heat, and total electrification costs under expansion scenarios.
From: Aligning EU energy security and climate mitigation through targeted transition strategies
a–d Range of levelized cost of electricity (LCOE, $ kWh-1) and levelized cost of heat (LCOHe, $ kWh-1) from solar and wind power expansion in 2024 and under slow, nominal, and fast cost-reduction trajectories by 2050. e,f Total annual cost of electrification potential ($bn) under renewable-capacity scenarios (BAU-solar, BAU-wind, PARTIAL-solar, PARTIAL-wind, FULL-solar, and FULL-wind) through 2050. The shaded ranges in (a–f) represent the envelope of outcomes derived from variations in interest rate, battery-storage inclusion, NUTS2-level solar irradiation and wind power output profiles across EU countries, and technology cost trajectories. Acronyms for the EU member states follow the glossary by the European Commission: Germany (DE); Italy (IT); France (FR); Netherlands (NL); Spain (ES); Poland (PL); Belgium (BE); Greece (EL); Austria (AT); Hungary (HU); Czechia (CZ); Portugal (PT); Sweden (SE); Denmark (DK); Romania (RO); Bulgaria (BG); Slovakia (SK); Estonia (EE); Finland (FI); Slovenia (SI); Luxembourg (LU); Lithuania (LT); Malta (MT); Ireland (IE); Croatia (HR); Latvia (LV).
