2024: the year of green electricity for Europe?
According to recent data, 2024 is expected to be the greenest year for the EU energy mix. By 2023, renewables accounted for 44.7% of total EU electricity production, surpassing fossil fuel sources. This shift is marked by a significant drop in electricity production from coal and fossil gas, while wind, solar and hydroelectric power have recorded a substantial increase.
The Energy Mix of the European Union in 2023
| Energy Type | Production in 2023 (GWh) | Share in Total Production |
|---|---|---|
| Renewable Energies | 1,21 million | 44,7% |
| Fossil fuels | 0,88 million | 32,5% |
| Nuclear | 0,62 million | 22,8% |
Wind and solar farms continue to increase in Europe
The EU’s energy transition is mainly driven by an increase in wind and solar power. In 2023, the installed capacity of wind and solar farms reached record levels, increasingly contributing to the reduction of CO2 emissions and dependence on fossil fuels.
| Energy Type | Increase in 2023 |
|---|---|
| Wind power | 12% |
| Solar energy | 10% |
Nuclear power: an asset for decarbonized energy
Nuclear power continues to play a vital role in the EU’s energy mix. With 22.8% of total electricity production in 2023, nuclear power remains a stable and low-carbon source, contributing to energy security and the reduction of greenhouse gas emissions. Several countries, such as France, Germany and Sweden, maintain a significant portion of their electricity production via modern nuclear power plants.
Between nuclear and renewable energies, in 2023 electricity production in Europe will reach the record level of more than 65% decarbonized electricity, according to data from the Eurelectric association.
Electricity production in 2024 already well on its way to being green
If 2023 allowed decarbonized electricity to be the majority in Europe, 2024 should reinforce this trend and even break a new record. This is in any case what the first data from the industry announce.
In the first half of 2024, nuclear energy accounted for 23.51% of the energy mix (325 TWh) while renewable energies enabled the production of 50.38% of electricity (696 TWh). Fossil fuels, for their part, accounted for 26.11% of the energy mix.
Result: in the first half of 2024, almost 74% of the electricity produced in Europe will have been decarbonized.
