Synthetic fuels: potential for Europe

Synthetic fuels produced from green electricity can make a major contribution to reducing greenhouse gas emissions around the world, and can also contribute to the economy, finds a study from the "Institut der Deutschen Wirtschaft". 

Since conventional supply via the electricity grid can cover only part of the needs of industry, transport and buildings, the electricity will also have to be made storable so that it can fully assume the role played by fossil energy carriers in the industry, transport and building heating sectors today.

Ramping up the production of electricity-based energy carriers offers enormous potential both for the European economy and the production locations:

- EUR 80 billion in additional annual added value are created for the European economy as a result of the production and export of PtX equipment and plants to non-European potential regions.

- 1.2 million new jobs can be created in Europe through the production and export of PtX equipment and plants. These jobs will result from Europe’s own production of machines, equipment and plants, the demand for intermediate consumption and the rise in income for employees there due to the additional demand for consumer goods.

- More than 340,000 new, highly productive jobs can be created at a PtX production site that serves one fiftieth of the global PtX demand potential.