Electrifying the economy can save 250 billion a year
Schneider Electric highlights the benefits for Europe in particular of clean energy and sees itself as an enabler of the ecological transition
Key points
- The Group
- Circular economy
- The role of software
- In Italy
Europe could save EUR 250 billion a year until 2040 by accelerating electrification, which, combined with the success of renewables, could help reduce fossil fuel consumption (largely imported into the EU) by two-thirds by 2040, leading to the estimated savings. With other beneficial effects such as reducing climate impact, lowering energy costs and reducing dependence on foreign sources of supply. But the rate of industrial electrification is stuck at 21%, yet the stated goal is to increase it to 35% by 2030. Efforts and investments must therefore be multiplied to reap the benefits of the most efficient energy source.
These are the main findings of a study by Schneider Electric's Sustainability research institute, presented by the leading group in the digital transformation of energy management and automation, at its Innovation summit in Copenhagen. Nearly five thousand people from all over the world - analysts, managers, operators and institutional representatives - attended the event, which took stock of innovations to enable the dual ecological and digital transition in companies.
Certainly, the study warns, those who want to regain competitiveness in a sustainable manner should accelerate electrification, act to reduce the cost difference between electricity and natural gas (by abandoning fossil subsidies), increase targeted funding and incentives (especially for SMEs), and direct revenues from emissions trading programmes and innovation funds towards electrification projects.
The Group
Against this backdrop, Schneider Electric, with its broad customer base (one million partners in more than one hundred countries) and its skilled workforce (160,000 employees) promotes efficiency and sustainability through electrification, automation and digitisation of industries, businesses and residential homes. 'We invent the technology that makes the energy transition possible,' explained Schneider Electric CEO Olivier Blum in Copenhagen. 'Our commitment is based on almost two centuries of innovation and impact.
"We are concerned about climate change," added the CEO of the group founded in France in 1836 by the Schneider brothers, "and sincerely committed to helping our customers reduce waste, optimise resources and use clean energy." Blum emphasised the urgency of acting now to make the global ecosystem more resilient and green. He noted that the world's energy needs will grow by 60 per cent over the next 15 years, intensifying pressure on infrastructure, and that renewable energies will triple their share by 2030, requiring smarter and more resilient grids and installations. "The challenges ahead are greater than any company or industry can tackle," he said. "Only through collaboration can we open up the full range of possibilities available to us.




