Since Russia's invasion of Ukraine three years ago, Europe has made substantial changes in its energy landscape. The continent has replaced its long-standing reliance on Russian natural gas with liquefied natural gas (LNG) imports from the U.S., and has significantly increased the generation of wind and solar power by approximately 50%. Despite these strides, Europe’s energy security remains precarious due to its ongoing dependence on external sources, particularly for natural gas, leading to increased costs for consumers and businesses across the region which are straining the economy.
Since 2021, wind and solar power generation in Europe has increased by around 50 percent, demonstrating the continent's commitment to diversifying energy sources and improving sustainability.
High energy costs, largely driven by the reliance on imported natural gas, have weakened Europe's economy, impacting households and forcing the closure of factories across the region.
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