LOADING

Type to search

74% of EU’s Electricity in Early 2024 Came from Renewable and Low-Carbon Sources, Reports Eurelectric’s ELDA

74% of EU’s Electricity in Early 2024 Came from Renewable and Low-Carbon Sources, Reports Eurelectric’s ELDA

Eurelectric
Listen to this story:
  • Renewables now account for over 50% of EU power generation in 2024.
  • 74% of EU electricity is from low-carbon sources, up from 68% in 2023.
  • Power demand is declining due to economic factors, risking investment in clean energy.

The EU’s clean electricity generation is hitting new highs. In the first half of 2024, renewables comprised over 50% of all power generation in Europe, with nuclear maintaining a stable 24% share, according to Eurelectric’s ELDA platform. Despite this, power demand remains low due to sluggish growth, deindustrialisation, and mild weather. Stimulating demand is essential to sustain investments in clean energy.

Europe’s power generation is decarbonising rapidly. Eurelectric’s latest data reveals that 74% of electricity produced in the EU in the first half of 2024 came from renewable and low-carbon sources, a significant rise from 68% in 2023. This surge is driven by a record influx of renewables and stable nuclear energy.

The pace of change is impressive. These figures document that the decarbonisation efforts of electricity companies are years ahead of any other sector, said Kristian Ruby, Secretary General of Eurelectric.

However, while supply figures are encouraging, electricity demand tells a different story. In the first half of 2023, EU power demand decreased by 5.1% compared to the same period in 2022 and continued to fall in 2024, being 4.8% lower than in H1 2022. This decline is due to industries relocating abroad, warmer temperatures, energy savings, and slow economic growth.

Years of stagnation in electricity demand have now turned into a regular decline. Policymakers must urgently support the uptake of electricity to provide the necessary investment signals for clean generation, added Ruby.

Related Article: Reporting Matters: CEBDS Study Analyzes Sustainability Efforts of 77 Major Companies in Brazil

To address this, Eurelectric urges the new Commission to propose an Electrification Action Plan within the first 100 days of its mandate. This plan should set a 35% indicative target for 2030 and introduce a clear electrification indicator in the national energy and climate plans (NECPs) of EU countries to ensure progress. Without action, the EU risks missing climate targets, curtailing renewable production, and slowing investments in the energy transition sector.

The Electricity Data Platform, ELDA, powered by Eurelectric, is the industry’s benchmark for reliable electricity data. Collecting over 16 million data points annually from sources like ENTSO-E and EU official statistics, the platform provides unmatched timeliness and accuracy, validated by industry experts.

Topics

Related Articles