Greenhouse gas emissions in the EU27 can be reduced to 30% below 1990 levels by 2020 and to 45% lower by 2030. The way to achieve this potential is to replace all energy-related equipment in the EU at the end of its economic life with energy-efficient and low-carbon technologies. The resulting lower energy bills are expected to pay for the costs of such a transition. These are the key findings of the SERPEC-CC project (Sectoral Emission Reduction Potentials and Economic Costs for Climate Change).