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Wind and Solar Overtake Fossils, Save EU €20 bn

7/17/2026

34 6 Full Breakdown

Summary

EU Saves €20B

EU countries have saved €20 billion in fossil-fuel import costs thanks to solar power since the Iran conflict began.
Solar generation offset €3 billion in March 2026, avoiding emergency gas shipments.
Solar supplied 25 percent of EU electricity in June 2026, the month’s largest single power source.
Wind and solar together produced 30 percent of EU electricity in 2025, overtaking fossil fuels for the first time.

Summary

Austria Leads Renewables

In 2024 Austria led the EU with 90 percent renewable electricity, supported by 16 hydro plants.
Spain added over 40 GW of wind and solar capacity since 2019, doubling its renewable capacity.
On 26 March, UK wind generation reached 23,880 MW, enough for 23 million homes, while gas fell to 2.3 percent.
Ember reports that Spain’s renewables have cut fossil-fuel price influence by 75 percent since 2019, outpacing Italy and Germany.

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EU Saves €20B

EU countries have saved €20 billion in fossil-fuel import costs thanks to solar power since the Iran conflict began.
Solar generation offset €3 billion in March 2026, avoiding emergency gas shipments.
Solar supplied 25 percent of EU electricity in June 2026, the month’s largest single power source.
Wind and solar together produced 30 percent of EU electricity in 2025, overtaking fossil fuels for the first time.

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