The European Union can achieve a 30% cut in greenhouse gas emissions at practically zero net cost. Simply replacing all energy-related equipment at the end of its economic life with low-carbon technologies, paid for thanks to lower energy bills, could almost halve the EU's greenhouse gas emissions within two decades. This is the conclusion of SERPEC-CC (Sectoral Emission Reduction Potentials and Economic Costs for Climate Change), a comprehensive two-year study coordinated by Ecofys that closely examined 650 relevant technologies across 10 major sectors. SERPEC assumes that low-carbon technologies will be applied in each cycle of renewal or renovation of industrial plants, power production plants, buildings, cars, trucks and electric appliances. SERPEC concludes that the potential for greenhouse gas emissions reductions through a shift to low-carbon technologies in the EU27 is 30% (below the 1990 level) by 2020 and 45% by 2030. Bart Wesselink, SERPEC project manager at Ecofys, said: "The key to achieving these emissions targets lies in behavioural change. Businesses and individuals often choose to buy new equipment based on upfront costs, but this is short-term thinking. Low-carbon technologies pay back over time and save money in the long run."