CERNOBBIO, Italy (Reuters) -Italy could fail to meet carbon emission reduction targets agreed at the European Union level due to delays in key green transition areas, including renewable power generation and energy storage systems, a study showed on Saturday.
The report, prepared by energy group Edison and think tank TEHA Group, pointed to Italy taking 10 years longer than anticipating in deploying renewables and storage infrastructure, which could prevent the country from hitting EU-set decarbonisation goals for 2030.
The study called for streamlining permitting, providing certainty for investments and reducing energy costs.
By combining hydropower storage with advanced nuclear power generation and carbon capture technologies, Italy could add 190 billion euros to its economic out by 2050, the study calculated.
Italy could develop hydropower storage, with an estimated 13.6 gigawatt potential across 56 new sites, supporting energy security and climate resilience, the report said.
“We must reduce our energy and technological dependence on foreign countries, enhance domestic supply chains such as hydroelectric pumping, and build European partnerships around emerging technologies, from next-generation nuclear to carbon capture,” Edison CEO Nicola Monti said, commenting the study.
Italy’s solar projects face costs that are currently 20% higher than in France, Germany and Spain, due to power grid congestion, land availability and lengthy approval processes, the report said.
(Reporting by Francesca Landini; Editing by Valentina Za)
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