Posted By Global Banking and Finance Review
Posted on January 22, 2025
By Susanna Twidale
(Reuters) - Solar power overtook coal in the European Union’s electricity mix for the first time last year, while wind power’s share plateaued, data from energy think tank Ember showed on Thursday.
The EU is seeking to increase its renewable power generation as part of efforts to cut emissions and reach its climate targets as well as cutting its reliance on fossil fuel imports to help boost energy security.
Solar generation provided 11% of the EU’s electricity mix in 2024, up from 9.3% in 2023 and overtaking coal which fell to less than 10% for the first time since Ember began collating the figures in 2011, the data showed.
“For the past two years we have seen sharp declines in both coal and gas in the EU power system and fossil fuels are now at an historic low,” Chris Rosslowe, senior analyst and lead author of the report said in an interview.
Gas-fired power production fell to a 15.7% share from 16.9% in 2023 while wind power was almost flat at 17.4%.
Although some 13 gigawatts (GW) of new wind capacity was added in 2024, wind conditions were less favourable than in 2023, leading to lower than expected generation.
"The new capacity added this year was slightly offset by the worse wind conditions," Rosslowe said.
The EU wants wind power to make up around 34% of its electricity mix by 2030 and more action is needed, particularly around making permitting for new projects easier, to meet the goal, Rosslowe said.
Nuclear remained the dominant electricity provider in the EU, rising to 23.7% from 23% in 2023.
(Reporting By Susanna Twidale; Editing by Kirsten Donovan)
