20 billion euros in savings from solar energy - Europe does the math after the rise in fossil fuels
Solar energy is protecting Europe from the costs of importing fossil fuels, while the war against Iran continues to keep oil and gas prices at very high levels.
A new analysis by SolarPower Europe finds that harnessing sunlight for energy saved Europe €20 billion between March 1 and July 15 by reducing demand for gas imports. Over the 137-day period, solar power delivered an average savings of €146 million per day. That’s more than France spends on defense every day.
The news comes after solar power became the EU's largest source of electricity in June, supplying 25 percent of the bloc's energy. It's a demonstration of the returns from Europe's investment in abundant, indigenous renewable energy sources.
Since 2019, Spain has doubled its wind and solar power capacity, adding more than 40 GW to its energy mix. To put this into perspective, a 1 GW power plant could power approximately 876,000 households for a year, if they consume an average of 10,000 kWh of electricity per year.
Solar power generated a record 25% of the EU's power in June, with Germany, Spain and Poland leading the way. Record wind has also helped the UK break a new record in renewable energy, despite "fantasy" claims that the country should drill in the North Sea for oil.
On March 26, British wind power production reached a new high of 23,880 megawatts, enough energy to power 23 million homes.
A report by Ember found that wind and solar power accounted for a record 30 percent of the EU's electricity, surpassing fossil fuels by just one percent.
The global olive oil market is stabilizing - US consumers are increasingly preferring it
The world’s largest olive oil company, Spain’s Deoleo, says the period of very high volatility has undoubtedly given way to more stable market conditions,......
"Global energy security at risk" - IEA head calls for Hormuz to be opened within weeks
If the US and Iran do not soon increase the oil flowing through the Strait of Hormuz, the world should be concerned about energy security, said the Executive......
Treguesit fiskalë janar-qershor 2026, MF: Të ardhurat 410.6 miliardë lekë, shpenzimet 357.8 miliardë lekë
Ministria e Financave ka publikuar treguesit paraprakë fiskale të gjashtëmujorit të parë të këtij viti. Sipas shifrave zyrtare të ardhurat totale të......
20 schools in the smart city project - Rama: Project that radically transforms public safety in the country
The 20 most frequented schools in Tirana have been equipped with 600 intelligent cameras as part of the Smart City project. Prime Minister Edi Rama, in his......
Electrification of the Tirana-Durrës-Rinas railway / Parliament approves the loan of 11,620 million euros from the EBRD
The Parliament has ratified the loan of 11.620 million euros from the European Bank for Reconstruction and Development (EBRD) that will be used for the......
The market of non-bank financial institutions is shrinking - BoA: The absorption of one of the lending entities by a bank changed the performance
The non-bank financial institutions market shrank during 2025, mainly as a result of the transition of one of the largest lending companies to the banking......
14 dormitories towards reconstruction - Shahini: Modern and affordable environments for students
14 buildings of the Student City will undergo reconstruction, with the aim of modernizing the conditions for young people who choose to be accommodated in......
Creditor claims are recognized as financial collateral - The new legal framework aims for more security for transactions, integration with European markets
A new legal framework for payment systems and financial collateral is expected to be created in Albania, with the aim of increasing the security of financial......
