EU saves $60 bn in 2025 by cutting fossil‑fuel imports

The European Union reduced its fossil‑fuel imports in 2025, saving about $60 billion (≈ 51.4 billion euros) compared with the previous year. Imports fell 11.1 % in value and 0.6 % in mass, while the bloc invested roughly $105 billion (≈ 90 billion euros) in renewable energy. Solar power led the expansion, generating more than 340 TWh—12.5 % of the EU electricity mix—and adding over 60 TWh, an amount equal to Portugal’s annual electricity demand. The shift to wind and solar also bolstered energy security amid price spikes caused by the conflict involving the United States, Israel and Iran.

Analysts expect further savings in 2026, as renewable output is projected to reach record levels. In April 2026, wind and solar together produced 22 % of global electricity, overtaking gas, which delivered 20 %, highlighting the rapid transformation of the world electricity mix during a period of heightened fossil‑fuel market volatility.