Lack of power interconnections and badly located renewable energy capacity have cost the EU $140bn (€122bn), according to the World Economic Forum.
Low interconnection capacity and poor cooperation between countries on renewables cost $40bn, a report published during the forum’s annual meeting in Davos on Tuesday indicates.
Countries’ wish to maintain national sovereignty over energy policy and market problems such as generous solar incentives in Germany have led to suboptimal deployment of renewable energy resources, according to the study.