Luxembourg city is recruiting to create a new trillion-dollar energy storage industry

Is Luxembourg ready for a low-carbon economy?

Luxembourg is targeting a sharp reduction in emissions by 2030, but new measures are needed to boost investment in renewables and energy efficiency, new IEA report says. The International Energy Agency released its latest in-depth review of Luxembourg’s energy policies today, welcoming the country’s ambitions to shift to a low-carbon economy.

Is Luxembourg ready to achieve its energy goals?

“The IEA is ready to support the government’s efforts to achieve these goals, starting with the recommendations contained within this report.” The report notes that Luxembourg faces challenges in achieving its energy objectives. The country’s energy supply is dominated by fossil fuels, and carbon dioxide emissions are rising since 2016.

Is Luxembourg a good place to invest in energy?

This is especially true for the transport sector, which in 2017 accounted for 54% of energy demand and 65% of non-ETS GHG emissions. 1 Luxembourg’s low cost of energy and the high purchasing power of its consumers are also a barrier, as they limit interest to invest in renewables and energy efficiency.

What challenges does Luxembourg face in the energy sector?

The government has adopted ambitious energy sector targets, including a 50-55% reduction of greenhouse gas emissions by 2030. Luxembourg faces challenges achieving those targets. Low energy prices for consumers are creating a barrier to the investments needed in energy efficiency and renewables.

What is Luxembourg doing about energy security?

Luxembourg is also actively cooperating with neighbouring countries on energy security and is planning to strengthen its electricity grid to support additional imports and domestic renewable generation.

What is Luxembourg doing to ensure a secure supply of electricity?

The IEA report notes that Luxembourg is undertaking actions on several fronts to ensure a secure supply of electricity. The country is aiming to increase domestic electricity generation to cover one-third of national demand by 2030, mostly from solar PV and wind.