EU’s Renewable and Low-Carbon Electricity Hits 74% in Early 2024

In a significant development for Europe’s energy sector, 74% of the EU’s electricity in the first half of 2024 came from renewable and low-carbon sources, up from 68% in 2023, according to data from Eurelectric’s ELDA platform. Renewables now account for over 50% of EU power generation, while nuclear energy maintains a stable 24% share. This rapid decarbonization of power generation highlights the EU’s progress in transitioning to cleaner energy sources.

Eurelectric’s Secretary General, Kristian Ruby, emphasized the impressive pace of change, noting that electricity companies are leading the decarbonization efforts ahead of other sectors. However, despite the positive supply-side developments, there is a concerning trend on the demand side. The EU’s power demand has been declining, with a 5.1% decrease in the first half of 2023 compared to the same period in 2022, and a further 4.8% drop in 2024 compared to 2022. Factors contributing to this decline include sluggish economic growth, deindustrialization, energy savings, and warmer temperatures.

Ruby stressed the need for policymakers to stimulate electricity demand to ensure continued investment in clean energy. Eurelectric is advocating for the new Commission to propose an Electrification Action Plan within its first 100 days, which would include setting a 35% indicative target for 2030 and incorporating a clear electrification indicator in the national energy and climate plans (NECPs) of EU countries.

The Electricity Data Platform, ELDA, powered by Eurelectric, has become the industry standard for reliable electricity data, collecting over 16 million data points annually from sources like ENTSO-E and EU official statistics. This platform provides timely and accurate information, validated by industry experts, ensuring that stakeholders have access to the most up-to-date and precise data available.