Luxembourg city energy storage trillion

What is Luxembourg doing about energy transition?

Luxembourg is pushing for a more aggressive approach on energy transition at the EU level and in some cases has adopted national targets that exceed the requirements of EU directives. Luxembourg’s renewable energy share is growing; it reached 6.4% of gross final energy consumption in 2017.

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.

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.

Why does Luxembourg have a low energy cost?

The low costs of energy in Luxembourg and the high purchasing power of its residents represent a significant barrier to achieving the energy sector targets. Low taxes result in low electricity, natural gas and heating oil prices providing little incentive to invest in renewables and energy efficiency.

What is Luxembourg's energy system like?

Luxembourg’s energy system is characterised by high import dependence and reliance on fossil fuels. In 2018, 95% of its energy supply (100% of oil, natural gas and biofuels and 86% of electricity) were imported. It had the fourth-highest share of fossils fuels in TPES (78%) and the highest share of oil in TPES (60%) among IEA member countries.