The EU Commission forecast that switching to renewable energy could save the EU 3 trillion euros by 2050 and create 500,000 new jobs by 2020. A report commissioned by environmental groups laid out a plan to make the EU's energy supply nearly carbon-free by 2050 through energy efficiency, investing in wind and solar power, and phasing out fossil fuel subsidies. The report estimates the cost of the transition would be 99 billion euros but would save over 3 trillion euros in fuel costs and create new jobs.

1. Renewable energy would save EU trillions by 2050

2. The Commission by environmental campaigners forecast 3 trillion
euros would generate by 2050 on their green revolution campaign- to
make EU energy almost totally carbon free.
The energy shift would already create around half a million extra jobs
by 2020, Crown researchers from German aerospace center DLR,
which also specializes in energy and transport, found. It has legislated
to ensure that 20 percent of the energy mix is green by the said year,
as part of a set of three main environmental goals. But it has yet to
achieve agreement on binding targets beyond 2020, even though
non-binding roadmaps have laid out the need for a virtually carbon-
free electricity mix by 2050.

3. Commissioned by Greenpeace and the European Renewable Energy Council
(EREC), the 2012 Energy evolution report lays out risk avoidance towards
almost carbon-free energy. They include curbing energy demand through
greater efficiency, increasing investment in wind and solar power and phasing
out subsidies for carbon-intensive energy, such as coal.
To bring about the energy transformation, it sees a need to invest about 99
billion euros between now and 2050 or else this will be added on the list of
renewable energy scam, but it says the financial gains are much greater.
Renewable energy has no fuel costs; the fuel cost savings in the energy
evolution scenario reach a total of 3, 010 billion euros up to 2050, or 75 billion
per year.
Another benefit is job-creation, one of their strides in fraud prevention. The
Crown report finds almost totally green energy would lead to half a million
extra jobs compared with business as usual, as renewable energy initially
demands more workers than carrying on with fossil fuel.