Europe made huge energy cost savings in 2025 thanks to reducing its dependence on polluting fossil fuels by driving investment in renewables.
Using wind and solar to generate power meant significantly less reliance on imported oil and gas, according to energy think tank Ember. Europe looks set for further savings in 2026 as renewable energy generation hits record highs thanks to ideal Spring conditions.
This is also ensuring greater energy security at a moment when the US-Israel and Iran war is destabilising supplies and forcing up costs.
Europe saves billions by investing in renewables
The EU saved $60 billion (€51.4 billion) in 2025 by lowering fossil fuel imports, according to a report by the International Energy Agency (IEA). Investing in renewables has also set Europe up well to handle the energy price shocks from the US-Israel and Iran war.
