The Average Purchasing Power of Europeans in 2022 Is €16,344
The average per capita purchasing power in Europe in 2022 is €16,344. However, there are tremendous differences among the 42 countries.
The European Union is making strides in renewable energy generation with the share of energy from renewable sources in gross final consumption hitting 17 percent in 2016, double the share in 2004 (8.5 percent). The EU is aiming to reach 20 percent by 2020 and at least 27 percent by 2030, according to Eurostat.
So far, Sweden is leading Europe's renewable energy charge. Its share of energy from renewable sources stood at 53.8 percent in 2016, far beyond its 2020 target of 49 percent. Finland is also doing well with renewables accounting for 38.7 percent of its energy consumption.
11 member states have already achieved their 2020 targets but others still have a lot of work to do. In advance of its divorce from the EU, the UK has a renewable energy consumption share of just 9.3 percent, an improvement on 1.1 percent back in 2004. It is aiming for a 15 percent renewable share by 2020, a target which may already be out of reach.
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