From burning to building: Europe's energy system is stuck in the past – Summa Equity sees a EUR 1.2 trillion opportunity to fix it
June 15th 2026, Stockholm: Two-thirds of the energy in fossil fuels is wasted before it ever reaches us, while countries dependent on oil and gas are exposed to price spikes, wars, and political pressure.
The new report, Investing in the energy system of the future, from Nordic private equity firm Summa Equity outlines a EUR 1.2 trillion annual investment opportunity in solutions that will modernize the energy systems of Europe and North America by 2030, while unlocking EUR 5 trillion in investor value as the transition scales.
– “The energy transition is not moving too fast. It is moving unevenly. Solar and batteries are scaling rapidly because they are the cheapest and fastest to build. Yet the grid, the markets and the rules have not kept up, and that imbalance is what we see in prices and reliability today.” – Annika Moman, Industrial Advisor at Summa Equity.
The legacy energy system was built to burn fossil fuels, and it is no longer fit for purpose. Roughly two thirds of the energy is lost in combustion, linked directly to 8.7 million premature deaths annually from air pollution. The supply chain leaves importing nations vulnerable: the European Union imports 96% of its oil and 89% of its gas. A new system is emerging to replace it, one that is based on electricity, renewable power, local energy production, and smart digital systems. Renewables now make up more than 90% of new electricity capacity, and the cost of solar power has fallen by more than 90% since 2010.
Summa estimates that the current fossil system wastes USD 4.6 trillion of energy every year. If we move money away from the old, polluting system and into companies that help speed up the transition, the opportunity is huge. By 2030, these solutions could become a EUR 1.2 trillion annual market in Europe and North America. That could create EUR 5 trillion in value for investors, while also delivering around EUR 200 billion every year in benefits for nature and the environment.
– “The future of energy is electric, and it is arriving faster than anyone predicted. In many areas electric solutions are now cheaper, faster and more secure than the old fossil system. The question is no longer whether the transition will happen, but how fast it will happen — and where capital should be invested to make the biggest difference.” – Gisle Glück Evensen, Partner at Summa Equity.
Investing in the energy system of the future is available now at summaequity.com.
About Summa
Founded in 2016, Summa Equity is an investment firm focused on the thematic areas of Circularity, Energy Transition, Sustainable Food, and Tech-Enabled Resilience. Summa’s purpose is to invest to solve global challenges.
Summa has raised close to EUR 4 billion and has made 35 platform investments across three funds to date. These investments target the critical challenges society must address, enabling the potential for long-term outperformance.
The team operates across Europe, with offices in Stockholm, Oslo and Munich. Partnerships are central to Summa’s approach, as reflected in its status as a certified B Corporation, its membership in the PRI System Stewardship Advisory Committee and the GIIN Investors Council, and its collaboration with the Capitals Coalition.http://www.summaequity.com/
For interviews or more information, please contact:
Hannah Gunvor Jacobsen, Partner, COO and Head of IR at Summa Equity
+47 936 41 960 | hannah.jacobsen@summaequity.com