By Abdullahi Lukman
Europe saved an estimated $60 billion (€51.4 billion) in 2025 by reducing its dependence on imported fossil fuels and accelerating investment in renewable energy, according to energy sector reports.
The savings came as increased electricity generation from wind and solar power reduced the European Union’s reliance on imported oil and gas.
Analysts say the shift has also strengthened the region’s energy security amid rising geopolitical tensions in the Middle East, where the conflict involving Iran, Israel and the United States has contributed to supply disruptions and higher energy prices.
According to the International Energy Agency (IEA), the EU’s transition to cleaner energy sources helped cushion the impact of global energy market volatility.
Energy think tank Ember said the financial benefits of the transition are expected to grow further in 2026 as renewable energy generation reaches new highs.
The EU imported energy products worth €336.7 billion in 2025, equivalent to 723.3 million tonnes.
Data from Strategic Perspectives showed that energy imports declined by 11.1 per cent in value and 0.6 per cent in volume compared with the previous year.
At the same time, the bloc invested about $105 billion (€90 billion) in renewable energy projects.
Solar power emerged as the strongest contributor, generating more than 340 terawatt-hours (TWh) of electricity and accounting for 12.5 per cent of the EU’s power mix.
Solar generation increased by more than 60 TWh from the previous year, an amount comparable to Portugal’s annual electricity consumption.
Energy experts said the growing investment in renewables, electrification and energy efficiency is delivering both economic and environmental benefits.
They noted that reducing dependence on fossil fuels is helping shield European households and businesses from energy price shocks while advancing climate goals.
Meanwhile, global renewable energy production reached a significant milestone in April 2026, when wind and solar power generated more electricity worldwide than natural gas for the first time.
According to Ember, wind and solar accounted for 22 per cent of global electricity generation during the month, compared with 20 per cent from gas-fired power plants.
The achievement came during the first full month of the latest global energy crisis linked to tensions in the Middle East, underscoring the growing role of renewable energy in the global power sector.
Renewable energy output increased across major economies, including China, the European Union, the United Kingdom, the United States, Australia, Chile and Brazil.
However, Ember noted that wind and solar have surpassed gas generation only on a monthly basis and not yet over an entire year.
Analysts attributed the April record to favourable spring weather conditions in the Northern Hemisphere, where strong winds and increased sunlight boosted renewable energy production while electricity demand remained relatively low between the winter heating and summer cooling seasons.