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Title: More with More

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dc:title More with More
dc:creator Floriana Cerniglia;Francesco Saraceno
dc:subject Energy transition investing;Low-carbon infrastructure finance;Sustainable energy investments;Renewable energy financing;Green investment strategies;Decarbonisation capital allocation
dc:description This outlook offers a timely and insightful exploration of Europe’s energy transition, a process that lies at the heart of today’s environmental, economic, and political debates. It examines the diverse commitments undertaken by European countries as they navigate the challenges of decarbonization and the shift to sustainable energy systems. By analyzing both the policy frameworks and the concrete instruments adopted to reach ambitious climate and energy goals, the book sheds light on the strategies shaping the continent’s future. 
 
A particular emphasis is placed on the role of public investment, highlighting how state action can catalyze innovation, support infrastructure, and bridge gaps where market forces alone may fall short. Through this lens, the volume not only evaluates existing practices but also considers the broader implications for governance, equity, and long-term resilience. 
 
Written with clarity and rigor, the outlook will be of interest to policymakers, scholars, and practitioners seeking to understand the dynamics of Europe’s green transition. It invites readers to consider the balance between national priorities and collective European objectives, offering valuable insights into how commitments translate into action—and how public investment can be a decisive lever for change.
dc:date 2025-11-25T15:43:10Z
dc:rights ©2025 Floriana Cerniglia, Francesco Saraceno, CC BY-NC 4.0
dc:language en-GB
dc:identifier urn:uuid:04b6dfe8-5aae-4d6f-8643-67c789c4ec5a | 978-1-80511-746-9
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dcterms:modified 2025-11-26T12:07:36Z
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Outlines

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TOC Outline

  1. Cover
  2. Title page
  3. Copyright
  4. Contents
  5. List of Figures
  6. List of Tables
  7. Acknowledgements
  8. Preface
    1. Alberto Quadrio Curzio and Xavier Ragot
  9. Introduction: Energy Transition in the EU—The Need for a Governance Revolution
    1. Floriana Cerniglia and Francesco Saraceno
  10. 1. An EU-wide Perspective on Public Investment in the Energy Transition
    1. Andrea Brasili, Bertrand Magné, Ege Öndeş, Debora Revoltella, and Annamaria Tueske
  11. 2. France: Preserving Investment in the Energy Transition in an Unstable Policy Environment
    1. Paul Malliet, Mathieu Plane, Francesco Saraceno, and Anissa Saumtally
  12. 3. The Role of Public Support for the Energy Transition in Germany: Past and Future Tasks
    1. Tom Bauermann
  13. 4. Energy Transition and Public Investment in Italy
    1. Giovanni Barbieri, Floriana Cerniglia, and Andrea Pronti
  14. 5. Investment in the Energy Transition in Spain
    1. Ignacio Álvarez and Jorge Uxó
  15. 6. Tackling the Drawbacks of Past and Current EU Energy Transition Policies: The Need for a Cooperative, Mission-oriented Industrial Strategy
    1. Francesco Gracceva and Daniela Palma
  16. 7. Energy Transition and Industrial Competitiveness in the EU
    1. Mirko Armiento and Andrea Villa
  17. 8. Research and Innovation Policy for the Energy Transition in the EU
    1. Francesco Pasimeni, Willem Klok, and Floor Alkemade
  18. 9. On Grids: The Backbone of the Energy Transition
    1. Antonella Battaglini and Catharina Sikow-Magny
  19. 10. Investing in Critical Raw Materials for the Clean-Tech Transition in the EU
    1. Roberto Zoboli
  20. 11. The EU Strategy for Green Hydrogen: More with Less (Public Investment)?
    1. Rafael Fernández and Clara García
  21. 12. The Power of Energy Communities for a Just Transition in Europe
    1. Francesc Cots, Jérémie Fosse, and Diana Mangalagiu
  22. 13. Making the ETS2 Socially Acceptable through Carbon Revenue Redistribution and Investments
    1. Andreas Eisl and Phuc-Vinh Nguyen
  23. 14. (How) Can the Energy Transition in Europe be a Just Transition?
    1. Bela Galgóczi and Andrew Watt
  24. Contributor Biographies
  25. About the Team
  26. This book need not end here…
  27. You may also be interested in:
  28. Back cover

Headings Outline

  • MORE WITH MORE
  • More with MoreInvesting in the Energy Transition
    • 2025 European Public Investment Outlook
      • Edited by Floriana Cerniglia and Francesco Saraceno
  • Contents
  • List of Figures
  • List of Tables
  • Acknowledgements
  • Preface
    • Alberto Quadrio Curzio and Xavier Ragot
  • Introduction: Energy Transition in the EU—The Need for a Governance Revolution
    • Floriana Cerniglia1 and Francesco Saraceno2
    • The “New” Industrial Policy
    • Adapting EU Institutions to the Newly Found Role of Industrial Policy
    • Protect Public Investment with an “Augmented Golden Rule” of Public Finances
    • References
  • 1. An EU-wide Perspective on Public Investment in the Energy Transition
    • Andrea Brasili,1 Bertrand Magné,2 Ege Öndeş,3 Debora Revoltella,4 and Annamaria Tueske5
    • 1.1 Introduction
    • 1.2 The Recent Dynamics of Public Investment in Europe
    • 1.3 Public Investment Details According to COFOG Categories
    • 1.4 Public Support for the Energy Transition through Cohesion Policy
    • 1.5 Catalyzing Power Grid Investment with Public Support
    • 1.6 Public Support for Energy Innovation
    • 1.7 The Role of the Public Sector in the Financing of Long-term Clean Energy Transformations
    • 1.8 Conclusion
    • References
  • 2. France: Preserving Investment in the Energy Transition in an Unstable Policy Environment
    • Paul Malliet,1 Mathieu Plane,2 Francesco Saraceno,3 and Anissa Saumtally4
    • 2.1 Introduction
    • 2.2 Public Investment in France: State of the Art
      • 2.2.1 The Historical Evolution of Public Investment
      • 2.2.2 Net Investment Recently Increased, but the Pace of Public Capital Accumulation Is Still Low
    • 2.3 The Energy Transition at a Crossroads
      • France
      • Germany
      • Italy
      • Poland
      • Rest of the EU
      • Spain
      • 2.3.1 Unfinished Business
    • 2.4 The Shrinking Fiscal Space and the Risk of a Change in Priorities
    • 2.5 Conclusion
    • References
  • 3. The Role of Public Support for the Energy Transition in Germany: Past and Future Tasks
    • Tom Bauermann1
    • 3.1 Introduction
    • 3.2 The Development of Renewable Electricity
    • 3.3 The German Remuneration: The Pros, the Cons, and the Tasks
    • 3.4 Power Grids and the Energy Transition—Challenges and Potential Solutions
    • 3.5 Summary and Conclusions
    • References
  • 4. Energy Transition and Public Investment in Italy
    • Giovanni Barbieri,1 Floriana Cerniglia,2 and Andrea Pronti3
    • 4.1 Introduction
    • 4.2 NRRP and Public Intervention to Accelerate the Green Transition
    • 4.3 Designing the Energy Transition in Italy
    • 4.4 The Investment Needs in Italy
    • 4.5 Conclusion
    • References
  • 5. Investment in the Energy Transition in Spain
    • Ignacio Álvarez1 and Jorge Uxó2
    • 5.1 Introduction
      • 2019
      • 2024
    • 5.2 The Design of the Energy Transition in Spain and the Role of Renewable Energies
    • 5.3 Public Investment and the Role of European Funds
    • 5.4 Reducing Electricity Prices as a New Strategy to Increase Competitiveness and Boost Re-industrialization in Spain
    • 5.5 Conclusions
    • References
  • 6. Tackling the Drawbacks of Past and Current EU Energy Transition Policies: The Need for a Cooperative, Mission-oriented Industrial Strategy
    • Francesco Gracceva1 and Daniela Palma2
    • 6.1 Introduction
    • 6.2 A Short, Comprehensive Assessment of the EU Energy Transition So Far
    • 6.3 Recent Revisions in the EU’s Green Strategy Approach
      • 6.3.1 The Global Dimension Deficiency
      • 6.3.2 The Competitiveness Obsession
      • 6.3.3 Structural Weaknesses
    • 6.4 A Cooperative, Mission-oriented Strategic Approach
      • 6.4.1 A Mission-oriented Approach
      • 6.4.2 A Cooperative Approach to Industrial Policies
    • 6.5 Rethinking the EU’s Productive Structure (and Economic Governance)
    • References
  • 7. Energy Transition and Industrial Competitiveness in the EU
    • Mirko Armiento1 and Andrea Villa2
    • 7.1 Setting the Stage: Energy Transition Strategic Technologies and Supply Chains to Boost EU Industrial Competitiveness
    • 7.2 Technical and Economic Analysis of the Potential for Industrial Electrification
    • 7.3 Policy Recommendations to Overcome the Main Barriers to Electrification
    • References
  • 8. Research and Innovation Policy for the Energy Transition in the EU
    • Francesco Pasimeni,1 Willem Klok,2 and Floor Alkemade3
    • 8.1 Introduction
    • 8.2 A Systems Perspective on Energy Innovation
    • 8.3 Energy Transition Barriers
      • 8.3.1 Barrier for the Diffusion of Consumer Technologies
      • 8.3.2 Barrier for SMEs to Engage with the Energy Transition
      • 8.3.3 Barrier within the Financial System
    • 8.4 Implications for Research and Innovation Policy
    • 8.5 Implications for Research and Innovation Policy
      • Recommendation 1: Support and Scale Bottom-up, User-centric Innovations
      • Recommendation 2: Address Existing Lock-ins and Prevent the Formation of New Ones through Systems-based Governance
      • Recommendation 3: Integrate and Empower SMEs through a Systemic, Multi-level Policy Framework
    • References
  • 9. On Grids: The Backbone of the Energy Transition
    • Antonella Battaglini1 and Catharina Sikow-Magny2
    • 9.1 Introduction
    • 9.2 The Role of Grids in the Energy Transition
    • 9.3 EU Regulatory and Planning Framework
      • 9.3.1 National Energy and Climate Plans (NECPs)
      • 9.3.2 Trans-European Networks for Energy (TEN-E)
    • 9.4 Investment Needs and Challenges
    • 9.5 Ensuring Efficient Investments
      • 9.5.1 Optimization and Prioritization
      • 9.5.2 Key Drivers: Electrification and Demand Growth
      • 9.5.3 Enhanced Cost-benefits Analysis and Regional Specificities
    • 9.6 Involving the Public and Unlocking Local Benefits
    • 9.7 Flexibility Technologies for Grid Optimization
    • 9.8 Flexibility and Optimization Are King
    • 9.9 Conclusion
    • References
  • 10. Investing in Critical Raw Materials for the Clean-Tech Transition in the EU
    • Roberto Zoboli1
    • 10.1 Introduction
    • 10.2 The EU Policy Framework
    • 10.3 “Economic Importance”: The EU’s Clean-Tech and CRM Value Chains
      • Number of clean tech manufacturing facilities by country
    • 10.4 “Supply Risk”: External Dependence within International Disorder
    • 10.5 Responses and Strategies
      • Strategic Projects for the EU
      • Strategic Projects for the EU
    • 10.6 Conclusions: Keeping a Balanced Development of the EU Value Chain
    • References
  • 11. The EU Strategy for Green Hydrogen: More with Less (Public Investment)?
    • Rafael Fernández1 and Clara García2
    • 11.1 Introduction
    • 11.2 An Investor State for Hydrogen
    • 11.3 Complementing the Investor State: Price Subsidies and Demand Targets for Hydrogen
    • 11.4 Doing More with Less (Public Investment)?
    • References
  • 12. The Power of Energy Communities for a Just Transition in Europe
    • Francesc Cots,1 Jérémie Fosse,2 and Diana Mangalagiu3
    • 12.1 Understanding the Just Transition: Definitions, Mechanisms, and Regional Challenges
    • 12.2 Energy Communities as a Catalyst of Change
    • 12.3 Community Engagement: Overcoming Resistance and Embracing Change
    • 12.4 The Transformative Power of Energy Communities in Just Transition Regions
    • 12.5 Navigating the Challenges of Energy Community Development 
    • 12.6 Conclusions and Recommendations
      • Strengthen Regulatory Frameworks
      • Safeguard Community Integrity
      • Promote and Support Citizen-led Initiatives
      • Foster Collaboration and Knowledge Sharing
      • Integrate Energy Communities into Just Transition Plans
    • References
  • 13. Making the ETS2 Socially Acceptable through Carbon Revenue Redistribution and Investments
    • Andreas Eisl1 and Phuc-Vinh Nguyen2
    • 13.1 Introduction
    • 13.2 The French Carbon Tax
    • 13.3 The German Klimageld
    • 13.4 The Austrian Klimabonus
    • 13.5 Policy Recommendations
      • 13.5.1 Strict Earmarking
      • 13.5.2 Visibility
      • 13.5.3 Targeting of Redistribution Mechanisms
      • 13.5.4 Avoiding Mismatches in Transition Incentives through CO2 Prices
      • 13.5.5 Compensation Schemes and Investment Support
    • References
  • 14. (How) Can the Energy Transition in Europe be a Just Transition?
    • Bela Galgóczi1 and Andrew Watt2
    • 14.1 Introduction
    • 14.2 The Concept of a Just Energy Transition and the Main Challenges
      • 14.2.1 Power Generation
      • 14.2.2 Power Distribution
      • 14.2.3 Energy Use
    • 14.3 The Main Dimensions of a Just Energy Transition
      • 14.3.1 Employment Transitions in a Decarbonizing Economy
      • 14.3.2 Distributional Effects of the Energy Transition
        • 14.3.2.1 Energy Poverty
      • 14.3.2.2 Energy Price
        • 14.3.2.3 Accessibility and Affordability of Clean Energy
    • 14.4 What Are the Available Instruments and How do They Work?
      • 14.4.1 Just Transition Fund
      • 14.4.2 Social Climate Fund
    • 14.5 What Are the Risks and Where Are the Gaps
    • References
  • Contributor Biographies
  • About the Team
  • This book need not end here…
    • Share
    • Donate
    • We invite you to connect with us on our socials!
    • Read more at the Open Book Publishers Blog
  • You may also be interested in:
  • Contents
    • Landmarks

Images

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Cover: More with More by Floriana Cerniglia and Francesco Saraceno. Book cover with a close-up view of large white wind turbine blades set against a bright sky. Soft light and mist create a minimal, airy atmosphere. The title, “More with More: Investing in the Energy Transition”, appears in elegant serif text, with the editors’ names above. Cover image: A close up of a wind turbine. Photo by Kamran Abdullayev (2023), https://unsplash.com/photos/a-close-up-of-a-windturbine-with-a-sky-background-GpWz5_3Ac2w. Cover design: Jeevanjot Kaur Nagpal. N/A N/A N/A cover.xhtml#epubcfi(/4/2/2) doc-cover
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Two side-by-side line graphs showing the long term evolution of public investment and capital transfer, respectively, at current prices, for the EU and the three macro-regions of South-Eastern Europe, Central and Eastern Europe and Western and North Europe. Both graphs show a recent increase in capital investment, with the effect of capital transfers notably pronounced in the South-Eastern Europe. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/22/2[Container018]/2) N/A
Two side-by-side tables report the shares of public investment and capital transfer financed through the Recovery and Resilience Facility from 2021 to 2024, for the EU and the three macro-regions of South-Eastern Europe, Central and Eastern Europe and Western and North Europe. Shares gradually increase, and notably so during the last two years in South-Eastern Europe, as well as Central and Eastern Europe. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/26/2[Container019]/2) N/A
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A bar chart and a line chart. The bar chart shows the amount of public investment and capital transfer in 2015 and 2023, for the total aggregate as well as two specific public investment classification in environmental protection and fuel and energy. Specific classifications display higher increases over time in capital transfers, though ultimately accounting for a small share of the total. The line chart plots the share of these two specific classifications in the total, which appears to be in relative and consistent decline between 2000 and 2015. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/46/2[Container021]/2) N/A
A line chart showing a declining trend in an indicator from 2001 to 2023. The vertical axis ranges from 0.04 to 0.075, while the horizontal axis lists each year. The line fluctuates modestly in the early and mid-2000s, rises around 2007, then steadily declines from 2014 onwards with slight variations in the final years. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/48/2[Container022]/2) N/A
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A stacked bar chart showing each EU country’s project EU budget and total eligible expenditure in EUR billions, accompanied by orange points representing the co-financing rate on a secondary vertical axis. Larger bars appear for Poland, Spain, and Romania. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/60/2[Container024]/2) N/A
A 100% stacked bar chart comparing the distribution of investment categories across EU countries. Categories include clean power infrastructures, transport, energy efficiency in public buildings, residential buildings, SMEs, and large firms, as well as an “other” category. Each country’s bar shows the proportional share of each investment type. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/62/2[Container025]/2) N/A
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A clustered bar and scatter chart showing EU member states’ investments in 2023, divided into public-owner-majority and private-owner-majority sectors, with yellow dots indicating 2023 investment as a share of total investments from 2020–2023. Values are displayed in EUR billions for each country, with notable variation across the EU. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/78/2[Container027]/2) N/A
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A combined bar and scatter chart displaying electricity interconnectivity levels across EU member states, separated into public and private categories. Purple bars indicate interconnectivity percentages, green bars represent private-sector values, and yellow dots show progress since 2020, with a dashed reference line marking the EU-wide 15% target. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/86/2[Container029]/2) N/A
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A stacked bar chart showing annual EU-level investments in energy-related technologies from 2014 to 2023. Categories include nuclear, energy efficiency, renewables, hydrogen and fuel cells, storage technologies and other cross-cutting research. The chart shows a gradual upward trend, with a clear increase after 2020. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/98/2[Container031]/2) N/A
A smaller stacked bar chart depicting national-level public investments in similar energy technology categories from 2014 to 2023. Annual totals remain comparatively modest, with a visible peak in 2022. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/100/2[Container032]/2) N/A
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A horizontal bar chart comparing the number of permitting procedures across European countries. Poland and Romania have the highest numbers, followed by Germany and Italy, while several other countries display much lower counts. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/110/2[Container034]/2) N/A
A 100% stacked bar chart illustrating the sectoral composition of permitting procedures in each European country. Sectors shown include electricity-related activities, gas or heat distribution, railway services, and urban transport services. Country-level distributions vary widely. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/112/2[Container035]/2) N/A
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A waterfall-style chart showing the current and projected investment needs as a percentage of GDP by sector, including transport, energy supply, buildings, industry and other categories. Current total investment sits at around 3.1% of GDP, rising to approximately 4.5% by 2030. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/128[table005]/4/2/2/2/2[Container037]/2) N/A
A bar and scatter chart showing public investment levels until 2030 for selected EU countries, with indications of EU funds referenced in national plans. Purple bars represent public investments, green bars represent EU funds, and yellow dots show public investment as a share of total spending. N/A N/A N/A ch1.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container040]/128[table005]/4/2/4/2/2[Container038]/2) N/A
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"Two pie charts comparing the global energy supply mix between 2019 and 2024: 2019: Coal (28.7%), Oil (42%), Natural Gas (15.2%), Nuclear (11.2%), Renewables & Waste (3%). 2024: Coal (27.2%), Oil (43.9%), Natural Gas (12.1%), Nuclear (14.4%), Renewables & Waste (2.5%). Total energy supply decreased by 8.7% since 2019. Colors: gray (coal), blue (oil), pink (gas), green (nuclear), light gray (renewables/waste)." N/A N/A N/A ch2.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container056]/18/2[Container043]/2) N/A
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"Area and line graph showing public investment as a percentage of GDP (1949–2024), broken down by administrative category: Local (dark blue), State (medium blue), and Social Security (green). The dashed black line represents the average public investment by period, peaking around 1968 (~6% of GDP) and declining thereafter, stabilizing near 4% post-2000. Social Security investment surged in the 1960s–70s but declined sharply by the 1990s, fluctuating around 1–2% afterward. State and Local investments grew steadily until the 1970s, then plateaued (~2–2.5% for Local, ~1.5–2% for State). Overall trend: Public investment rose sharply mid-20th century, then gradually declined, with temporary rebounds (e.g., 2009)." N/A N/A N/A ch2.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container056]/34/2[Container045]/2) N/A
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"Stacked area chart depicting public investment in various sectors as a percentage of GDP from 1979 to 2023. Categories include Civil Engineering Works (dark blue), Non-Residential Buildings (medium blue), Housing (lighter blue), Machines and Equipment (light blue), Intellectual Property Rights (very light blue), and Weapon Systems (lightest blue). Civil Engineering Works dominate the chart, peaking around 1.8% of GDP in the early 1990s and showing fluctuations thereafter. Housing and Non-Residential Buildings maintain relatively steady contributions, each generally below 0.6% of GDP. Machines and Equipment and Intellectual Property Rights show moderate fluctuations, with occasional peaks. Weapon Systems have the smallest share, consistently below 0.2% of GDP. Overall trend: A significant peak in total public investment in the early 1990s, followed by a decline and smaller fluctuations, with a notable dip around 2013." N/A N/A N/A ch2.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container056]/50/2[Container047]/2) N/A
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"Bar and line chart illustrating financial and non-financial assets, debt, and net wealth from 1978 to 2024. Gross financial debt (red) consistently negative, showing an increasing trend in debt levels over time. Net financial debt (orange) also negative, but less so than gross financial debt. Non-financial assets (blue) consistently positive, increasing over time and peaking around 100+ units in recent years. Lines: Net wealth (black line) shows fluctuations, peaking around the early 2000s and 2010, followed by a decline and slight recovery towards 2024. Maastricht public debt (gray line) displays a downward trend from around -20 in 1978 to approximately -140 by 2024. Trends: Non-financial assets have steadily increased, indicating growth in tangible assets. Both gross and net financial debt have worsened over time, reflecting increasing liabilities. Net wealth shows periods of increase and decrease, influenced by the balance between assets and debts." N/A N/A N/A ch2.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container056]/64/2[Container049]/2) N/A
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"Scatter plot chart showing territorial CO₂ emissions per capita (in tCO₂eq/capita) for EU countries in 1990, 2022  and 2030 fit for 55 targets , ranked by 2022 emission levels. A green shaded area represents the net-zero range (0 to 1.5 tCO₂eq/capita). Key observations: In 1990, EU average emissions were 11.8 tCO₂eq/inhabitant; by 2022, this dropped to 7.8 tCO₂eq/inhabitant. The 2030 target is 4.62 tCO₂eq/inhabitant, with most countries still above this threshold in 2022. Sweden, Malta, and Latvia had the lowest 2022 emissions, while Estonia, Ireland, and Poland had the highest." N/A N/A N/A ch2.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container056]/74/2[Container051]/2) N/A
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Charts comparing renewable energy production capacity (in gigawatts, GW) across six European regions—France, Germany, Italy, Poland, the rest of the EU, and Spain—from 2000 to 2025. Each chart illustrates the evolution of different renewable energy sources: wind (light green), solar (yellow), hydropower (excluding pumped storage, in blue), bioenergy (dark green), geothermal (orange), and marine energy (black). France: Gradual growth in wind and solar, with a recent sharp increase in solar capacity. Germany: Significant growth in wind and solar, with a notable surge in solar after 2020. Italy: A marked increase in solar around 2010–2015, followed by stabilization and recent growth.Poland: Late but rapid growth in solar after 2020, while other sources remain stable. Rest of the EU: Steady progress in wind and solar, with a recent surge in solar capacity. Spain: Moderate growth in wind and solar, with a recent acceleration in solar. Charts comparing renewable energy production capacity (in gigawatts, GW) across six European regions—France, Germany, Italy, Poland, the rest of the EU, and Spain—from 2000 to 2025. Each chart illustrates the evolution of different renewable energy sources: wind (light green), solar (yellow), hydropower (excluding pumped storage, in blue), bioenergy (dark green), geothermal (orange), and marine energy (black). France: Gradual growth in wind and solar, with a recent sharp increase in solar capacity. Germany: Significant growth in wind and solar, with a notable surge in solar after 2020. Italy: A marked increase in solar around 2010–2015, followed by stabilization and recent growth. Poland: Late but rapid growth in solar after 2020, while other sources remain stable. Rest of the EU: Steady progress in wind and solar, with a recent surge in solar capacity. Spain: Moderate growth in wind and solar, with a recent acceleration in solar. N/A N/A N/A ch2.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container056]/88/2[Container053]/2) N/A
Charts comparing renewable energy production capacity (in gigawatts, GW) across six European regions—France, Germany, Italy, Poland, the rest of the EU, and Spain—from 2000 to 2025. Each chart illustrates the evolution of different renewable energy sources: wind (light green), solar (yellow), hydropower (excluding pumped storage, in blue), bioenergy (dark green), geothermal (orange), and marine energy (black). France: Gradual growth in wind and solar, with a recent sharp increase in solar capacity. Germany: Significant growth in wind and solar, with a notable surge in solar after 2020. Italy: A marked increase in solar around 2010–2015, followed by stabilization and recent growth.Poland: Late but rapid growth in solar after 2020, while other sources remain stable. Rest of the EU: Steady progress in wind and solar, with a recent surge in solar capacity. Spain: Moderate growth in wind and solar, with a recent acceleration in solar. Charts comparing renewable energy production capacity (in gigawatts, GW) across six European regions—France, Germany, Italy, Poland, the rest of the EU, and Spain—from 2000 to 2025. Each chart illustrates the evolution of different renewable energy sources: wind (light green), solar (yellow), hydropower (excluding pumped storage, in blue), bioenergy (dark green), geothermal (orange), and marine energy (black). France: Gradual growth in wind and solar, with a recent sharp increase in solar capacity. Germany: Significant growth in wind and solar, with a notable surge in solar after 2020. Italy: A marked increase in solar around 2010–2015, followed by stabilization and recent growth. Poland: Late but rapid growth in solar after 2020, while other sources remain stable. Rest of the EU: Steady progress in wind and solar, with a recent surge in solar capacity. Spain: Moderate growth in wind and solar, with a recent acceleration in solar. N/A N/A N/A ch2.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container056]/92/2[Container054]/2) N/A
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Installed capacity (in Gigawatt). The figure shows the installed capacity of the various electricity sources that feed into the public grid. Source: Fraunhofer ISE (2025a). N/A N/A N/A ch3.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container065]/22/2[Container058]/2) N/A
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Share of renewables in public net electricity production (in percent). The figure shows the share of the respective electricity source in the total public net electricity generation. Privately generated electricity for own consumption is not shown. Source: Fraunhofer ISE (2025b). N/A N/A N/A ch3.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container065]/32/2[Container060]/2) N/A
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Financial support for renewable electricity (in billion euros). The figure depicts the public funding of renewable energy support schemes with the help of the levy on consumers and, later on, the federal budget. Values are noted in prices of 2024. Source: Statistisches Bundesamt (2025) and own calculations. N/A N/A N/A ch3.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container065]/46/2[Container062]/2) N/A
Actual and planned grid investments (in billion euros). The figure shows the investments in the transmission and distribution grid. The gray bars show the in-vestments up to 2024. The green bars show the planned expansion investments for a carbon-neutral grid. The figure has been updated and recalculated in prices of 2024. Source: Bauermann, Kaczmarczyk und Krebs (2024). N/A N/A N/A ch3.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container065]/76/2[Container063]/2) N/A
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Line chart showing capital expenditure and public investment as a share of GDP from 2015 to 2027. The horizontal axis shows calendar years from 2015 to 2027. The vertical axis shows values from 0 to 14 per cent. One line represents capital expenditure as a percentage of GDP and the other line represents public investment as a percentage of GDP. Both series move within the 0–14 per cent range over time, allowing comparison of the relative level and evolution of capital expenditure and public investment across the forecast period. N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/32/2[Container067]/2) N/A
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Dual‑axis line chart comparing Italy (labelled IT) with the EU average for an indicator reported both in tonnes per capita and as an index with base year 1990. The horizontal axis shows years from 1990 to 2023. The left vertical axis runs from 0 to 120 and corresponds to the index (1990 = 100). The right vertical axis runs from 0 to 14 and corresponds to tonnes per capita. Two lines show Italy and the EU average in tonnes per capita, and two additional lines show Italy and the EU average as index values. The figure illustrates how Italy’s level and trend compare with the EU average over the 1990–2023 period in both absolute (tonnes per capita) and relative (index) terms. N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/68/2[Container069]/2) N/A
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Line chart showing the evolution of an index (1990 = 100) between 1990 and 2020, together with two fitted trend lines for different sub‑periods. The horizontal axis shows years from 1990 to 2020 at roughly five‑year intervals. The vertical axis runs from 40 to 120, labelled as an index with 100 equal to the 1990 level. One solid line shows the actual evolution of the index over time. A second line shows the trend estimated for the 2007–2014 period, and a third line shows the trend estimated for the 2014–2021 period. The chart is designed to highlight how the actual path compares with these two different trend trajectories relative to the 1990 baseline. N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/76/2[Container071]/2) N/A
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Multi‑series chart showing an Italian (IT) aggregate by economic sector from 2008 to 2023. The horizontal axis shows years from 2008 to 2023. The vertical axis ranges from 0 to 500,000 in unspecified units. Separate series are reported for IT agriculture, IT mining, IT manufacturing, IT energy, IT transportation, IT public administration/defence and IT other sectors. The figure allows comparison of the relative level and trend of the indicator across sectors over time, as well as the overall shift in the sectoral composition between 2008 and 2023. N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/86/2[Container073]/2) N/A
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A pie chart illustrating the percentage share of different renewable energy sources. The largest share, 35%, is represented by Hydro (dark blue). This is followed by Solar at 26% (orange) and Wind at 21% (dark green). Biomass accounts for 14% (light blue), and Geothermal makes up the remaining 5% (purple). N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/96/2[Container075]/2) N/A
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A stacked bar chart titled ‘Italy’ showing the total employed population by economic sector for Italy from 2008 to 2023. Each bar represents a year, and the stack segments show the contribution of different sectors to the total, with values on the vertical axis ranging from approximately -20,000 to 480,000. The key sectors shown (bottom to top in the stack) are: Agriculture, Mining, Manufacturing, Energy, Transportation, Public Administration/Defense, and Other Sectors. The chart generally shows a slow decrease in total employment over the period, with Manufacturing (dark green) and Public Administration/Defense (light blue) being consistently large contributors, while sectors like Manufacturing and Other Sectors (black) appear to contract over time. N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/104/2[Container077]/2) N/A
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A choropleth map of Italy showing the Number of Installed Photovoltaic Systems by region, based on data from 2023. The data is represented by a color gradient where darker shades of blue indicate a higher number of installed systems (up to 264,823) and lighter shades indicate a lower number. The map clearly shows that the regions in Northern Italy (particularly Lombardy, Veneto, and Emilia-Romagna) have the highest concentration of installed systems N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/112/2[Container079]/2) N/A
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A choropleth map of Italy showing the Average Solar Irradiance by region. The data is represented by a color gradient ranging from lighter to darker shades of brown/red, with the scale indicating values between 1,236 and 1,685. The map clearly illustrates that the Southern regions and the islands (Sicily and Sardinia) have the highest average solar irradiance (darkest color), while the Northern regions have the lowest (lightest color) N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/120/2[Container081]/2) N/A
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Bar chart comparing multiple energy‑related sectors—residential, tertiary, industry, district heating (distribution only), transport (vehicles only), electricity sector (generating installations), electricity system (networks), storage systems (batteries and pumping), and electrolysers—on a common scale from 0 to 70. Each bar represents the relative size or capacity associated with the respective sector, enabling comparison of their contribution or investment levels. N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/152/2[Container083]/2) N/A
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Bar chart displaying investment gaps in renewable energy sources and electricity generation. Categories include bioenergy, hydropower, geothermal energy, photovoltaics, concentrated solar power, onshore wind, offshore wind, and fossils. Values range from 0 to 25, allowing comparison of the relative investment shortfalls across the listed technologies. N/A N/A N/A ch4.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container087]/158/2[Container085]/2) N/A
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Bar chart illustrating the composition of electricity generation in 2019 across various sources: hydraulic, wind, solar photovoltaic, solar thermal, other renewables, gas (combined cycles), fuel and gas, carbon, nuclear, cogeneration, and others. Each bar shows its contribution, with values ranging from approximately 0.3 to 34.2, highlighting the relative mix of energy sources. N/A N/A N/A ch5.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container098]/18/2[Container089]/2) N/A
Bar chart showing the updated composition of electricity generation in 2024. Categories include hydraulic, wind, solar photovoltaic, solar thermal, other renewables, gas (combined cycles), fuel and gas, carbon, nuclear, cogeneration, and others. Values range from approximately 0.5 to 56.8, illustrating changes in the energy mix compared with 2019. N/A N/A N/A ch5.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container098]/22/2[Container090]/2) N/A
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Line chart showing annual percentage change from 2008 to 2024. The vertical axis ranges from –20% to +50%. The line traces year‑on‑year variation across this period, highlighting periods of decline, stability, and sharp increase. N/A N/A N/A ch5.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container098]/128/2[Container094]/2) N/A
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Line chart showing annual percentage change from 2008 to 2024, with values ranging from –30% to +40%. The chart emphasises fluctuations across the years, allowing comparison of negative and positive growth periods. N/A N/A N/A ch5.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container098]/134/2[Container096]/2) N/A
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Stacked bar chart showing the breakdown of Energy Transition Investment Needs across three major economic blocs: China, the USA, and IT+DE+FR (Italy, Germany, and France). The Y-axis represents the investment amount (units not specified, likely billions or similar large unit). The total investment is lowest for China (approx. 280), intermediate for the USA (approx. 600), and highest for IT+DE+FR (approx. 780). The key components of the investment, from bottom to top, include Energy affordability (large red component in IT+DE+FR), Energy efficient Buildings/Industry, Low-Carbon electricity (large light blue component in China and USA), Fuels + Technology innovation, Low-Carbon and efficient transport, Just transition, and Electricity networks (small dark blue component at the top of USA and IT+DE+FR). N/A N/A N/A ch6.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container104]/50/2[Container101]/2) N/A
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Diagram showing the overlapping of the Rodrik and Climate Trilemmas. The diagram features six colored nodes and arrows illustrating their relationships. The blue nodes are Global poverty and Middle class adv. economies. The red nodes are Competitiveness and Middle class adv. economies (shared with blue). The green nodes are Decarbonization and Climate change. The purple node is Energy security. Arrows indicate complex, often conflicting, relationships and trade-offs between global poverty, middle-class advancement, competitiveness, energy security, climate change, and decarbonization N/A N/A N/A ch6.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container104]/76/2[Container103]/2) N/A
The picture shows the number of clean tech manufacturing facilities by technology group (batteries, heath pumps, solar, wind) and their location across EU countries. Source: Bruegel https://www.bruegel.org/dataset/european-clean-tech-tracker N/A N/A N/A ch10.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container117]/42/2[Container112]/2) N/A
The picture shows the size (in million/€) and the state of implementation of new investments in selected clean tech industries (solar, zero emission vehicles, batteries) in 2019-2024 and their location across EU countries. Source: Bruegel https://www.bruegel.org/dataset/european-clean-tech-tracker N/A N/A N/A ch10.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container117]/52/2[Container113]/2) N/A
The figure shows the major suppliers of critical raw materials to the EU (2023) and their quality of governance according to the World Governance Indicators. Source: JRC - https://rmis.jrc.ec.europa.eu/eu-critical-raw-materials N/A N/A N/A ch10.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container117]/74/2[Container114]/2) N/A
The figure shows the 'strategic projects' on critical raw materials approved by the European Commission with the call 2024, their type and location across EU countries. Source: https://single-market-economy.ec.europa.eu/sectors/raw-materials/areas-specific-interest/critical-raw-materials/strategic-projects-under-crma/selected-projects_en N/A N/A N/A ch10.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container117]/110/2[Container115]/2) N/A
The figure shows the 'strategic projects' on critical raw materials in countries outside the EU approved by the European Commission with the call 2024, their types and location. Source: https://single-market-economy.ec.europa.eu/sectors/raw-materials/areas-specific-interest/critical-raw-materials/strategic-projects-under-crma/selected-projects_en N/A N/A N/A ch10.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container117]/128/2[Container116]/2) N/A
Map of Austria, subdivided into its municipalities and, in the case of Vienna, its city districts. Each of these subdivisions is coloured in one of four colours, which represent the regional differentiation in the size of the Austrian Klimabonus. N/A N/A N/A ch13.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container124]/68/2[Container123]/2) N/A
Bar chart showing share of population unable to keep their home warm, for total population and for those at risk of poverty for "European Union" and various European countries. The blue bars represent "total" and the orange bars represent "below 60% of median income." The values for both are on a vertical axis ranging from 0 to 50. The European Union average is approximately 10 (total) and 20 (below 60% of median income). Countries with the highest proportion below 60% of median income are Greece, Latvia, and Bulgaria, all with values around 40. N/A N/A N/A ch14.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container134]/86/2[Container126]/2) N/A
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Bar chart comparing Electricity price for households and for energy-intensive industries for various European countries on a vertical axis from 0 to 50. The blue bars represent "households" and the orange bars represent "energy intensive industries." The data likely shows the share of consumption or expenditure. The "households" share is consistently higher than "energy intensive industries" in most countries. The countries with the highest household share are Germany, Belgium, Denmark, and Estonia, all with values around 40-45. Malta and the Netherlands show the highest share for "energy intensive industries," both around 32. N/A N/A N/A ch14.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container134]/110/2[Container128]/2) N/A
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Stacked bar chart showing a breakdown of two funding sources, RRF (Recovery and Resilience Facility, in blue) and MFF (Multiannual Financial Framework, in orange), for various European countries. The countries are ordered along the horizontal axis, and the vertical axis ranges from 0 to 4000. Poland, Germany, Romania, and Czechia receive the highest total amounts, with Poland’s total reaching approximately 3500. For most countries, RRF (blue) makes up the larger portion of the total funding. N/A N/A N/A ch14.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container134]/144/2[Container130]/2) N/A
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Grouped bar chart displaying Just Transition Fund allocations by policy category—Economic (blue), Environmental (orange), and Social (green)—for seven countries or regions (BG, CZ, EE, HU, LV, PL, RO, SK). The vertical axis ranges from 0 to 80. The dominant category varies significantly by country. The Economic category is highest in Romania (RO) and Estonia (EE), both over 65. The Environmental category is highest in Bulgaria (BG) and Latvia (LV), both at 60. The Social category is generally the lowest across all countries shown, with Czechia (CZ) having the highest value for this category, at 30. N/A N/A N/A ch14.xhtml#epubcfi(/4[Saraceno_0499-2]/2[Container134]/152/2[Container132]/2) N/A
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Back cover: More with More by Floriana Cerniglia and Francesco Saraceno. N/A N/A N/A back-cover.xhtml#epubcfi(/4/2/2) N/A