More with More: Investing in the Energy Transition: 2025 European Public Investment Outlook - cover image

Book Series

Copyright

Floriana Cerniglia; Francesco Saraceno. Copyright of individual chapters are maintained by the chapter author(s).

Published On

2025-12-08

ISBN

Paperback978-1-80511-743-8
Hardback978-1-80511-744-5
PDF978-1-80511-745-2
HTML978-1-80511-747-6
EPUB978-1-80511-746-9

Language

  • English

Print Length

272 pages (xvi+256)

Dimensions

Paperback178 x 19 x 254 mm(7" x 0.75" x 10")
Hardback178 x 22 x 254 mm(7" x 0.87" x 10")

Weight

Paperback645g (22.75oz)
Hardback862g (30.41oz)

Media

Illustrations43
Tables11

THEMA

  • KFFM
  • KNBT
  • THY
  • KFFS
  • KCVG

BISAC

  • BUS070040
  • BUS072000
  • BUS094000

Keywords

  • Energy transition investing
  • Low‑carbon infrastructure finance
  • Sustainable energy investments
  • Renewable energy financing
  • Green investment strategies
  • Decarbonisation capital allocation

More with More: Investing in the Energy Transition

2025 European Public Investment Outlook

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.

Endorsements

This book strongly argues the need to increase public funding for the energy transition. The authors show that public investment is a more cost-effective use of economic resources. Their evidence for supporting the energy transition is timely and essential for the goals of EU countries. Shifting to renewable energy is vital for gaining energy independence, reducing reliance on foreign sources, and improving national security. A well-planned energy transition can also lead to more stable energy prices, which helps lessen the ups and downs of fossil fuel costs. By encouraging diverse energy sources and investment in sustainable technologies, this book presents a clear path toward a strong and self-sufficient energy future that benefits our economy and the environment. It is essential reading for anyone interested in the future of energy and public policy.

Professor Joan R. Rosés

London School of Economics (LSE)

Additional Resources

[dataset]Chapter 1 Datasets
[dataset]Chapter 2 Datasets
[dataset]Chapter 3 Datasets
[dataset]Chapter 4 Datasets
[dataset]Chapter 5 Datasets
[dataset]Chapter 6 Datasets
[dataset]Chapter 14 Datasets
[image]Table 6.1

Table 6.1 A comprehensive assessment of the EU energy transition through a set of indicators. Note: 2024 and 2025 data are authors’ estimations; the 2025 data refer to the first half of the year, calculated on a rolling twelve-month basis.

[document]EPUB Accessibility Report

Contents

Preface

(pp. xv–xv)

    Introduction: Energy Transition in the EU—The Need for a Governance Revolution

    (pp. 1–12)
    • Floriana Cerniglia
    • Francesco Saraceno

    1. An EU-wide Perspective on Public Investment in the Energy Transition

    (pp. 13–28)
    • Andrea Brasili
    • Bertrand Magné
    • Ege Öndeş
    • Debora Revoltella
    • Annamaria Tueske

    2. France: Preserving Investment in the Energy Transition in an Unstable Policy Environment

    (pp. 29–44)
    • Paul Malliet
    • Mathieu Plane
    • Francesco Saraceno
    • Anissa Saumtally

    3. The Role of Public Support for the Energy Transition in Germany: Past and Future Tasks

    (pp. 45–58)
    • Tom Bauermann

    4. Energy Transition and Public Investment in Italy

    (pp. 59–76)
    • Giovanni Barbieri
    • Floriana Cerniglia
    • Andrea Pronti

    5. Investment in the Energy Transition in Spain

    (pp. 77–92)
    • Ignacio Alvarez
    • Jorge Uxó

    6. Tackling the Drawbacks of Past and Current EU Energy Transition Policies: The Need for a Cooperative, Mission-oriented Industrial Strategy

    (pp. 93–114)
    • Francesco Gracceva
    • Daniela Palma

    7. Energy Transition and Industrial Competitiveness in the EU

    (pp. 115–124)
    • Mirko Armiento
    • Andrea Villa

    8. Research and Innovation Policy for the Energy Transition in the EU

    (pp. 125–142)
    • Francesco Pasimeni
    • Willem Klok
    • Floor Alkemade

    9. On Grids: The Backbone of the Energy Transition

    (pp. 143–156)
    • Antonella Battaglini
    • Katharina Sikow-Magny

    10. Investing in Critical Raw Materials for the Clean-Tech Transition in the EU

    (pp. 157–176)
    • Roberto Zoboli

    11. The EU Strategy for Green Hydrogen: More with Less (Public Investment)?

    (pp. 177–190)
    • Rafael Fernández
    • Clara García

    12. The Power of Energy Communities for a Just Transition in Europe

    (pp. 191–204)
    • Francesc Cots
    • Jérémie Fosse
    • Diana Mangalagiu

    13. Making the ETS2 Socially Acceptable through Carbon Revenue Redistribution and Investments

    (pp. 205–222)
    • Andreas Eisl
    • Phuc-Vinh Nguyen

    14. (How) Can the Energy Transition in Europe be a Just Transition?

    (pp. 223–242)
    • Bela Galgóczi
    • Andrew Watt

    Contributors

    Floriana Cerniglia

    (editor)
    Full Professor of Economics at Università Cattolica del Sacro Cuore
    https://orcid.org/0000-0001-9972-716X

    Floriana Cerniglia is a Full Professor of Economics at Università Cattolica del Sacro Cuore (Milan) and Director of CRANEC (Centro di ricerche in analisi economica e sviluppo economico internazionale). She is the Co-Editor-in-Chief of Economia Politica (Journal of Analytical and Institutional Economics). She received her PhD from the University of Warwick (UK) and her research interests are in public economics and in macroeconomic policies. She has published in leading international journals and she has coordinated and participated in a number of peer-reviewed research projects.

    Francesco Saraceno

    (editor)
    Deputy Department Director at OFCE at Sciences Po, Paris
    https://orcid.org/0000-0003-0121-4329

    Francesco Saraceno is Deputy Department Director at OFCE, the research centre in economics at Sciences Po in Paris, and Professor of Practice at LEAP-Luiss, Rome. He holds PhDs in Economics from Columbia University and the Sapienza University of Rome. His research focuses on the relationship between inequality, macroeconomic performance, and European macroeconomic policies. From 2000 to 2002 he was a member of the Council of Economic Advisors for the Italian Prime Minister’s Office. He teaches international and European macroeconomics at Sciences Po, where he manages the Economics concentration of the Master’s in European Affairs, and in Rome (Luiss). He is Academic Director of the Sciences Po-Northwestern European Affairs Program. He advises the International Labour Organization (ILO) on macroeconomic policies for employment and participates in IMF training programmes on fiscal policy.