Record-Breaking Start to 2024 for Europe's Clean Energy Sector

Wednesday, 27 March 2024

According to energy research group Ember, clean electricity production reached a record 516.5 terawatt hours in January and February, marking a 12% increase compared to the same period in 2023.

During the same timeframe, fossil fuel-based electricity generation hit 351 TWh. Dropping by over 8% from 2023, this was the lowest recorded since at least 2015.

In addition, natural gas-based production saw a 4% decline, while coal-fired electricity output decreased by nearly 15% compared to last year.

Producing 172.5 terawatt hours (TWh) of electricity (a 4.1% increase from 2023), nuclear power plants remained the primary source of clean energy in Europe.

However, this marks the second lowest output for the first two months of the year since 2015 – a result of German nuclear plants closing as well as ongoing output challenges in France.

Driven by strong performances in Portugal, Switzerland, Norway, and France, hydro output rose by nearly 23% from 2023.

In fact, hydroelectric dams contributed the second highest share of Europe's clean electricity, generating 153 TWh. This accounts for a record 17.6% of total electricity production in Europe.

As for solar and wind, when combined, they have expanded annually by 11% since 2019. To add on to this, solar energy generation was up by almost 19% from the same period in 2023, reaching a new peak of 24.4 TWh.

Moreover, seeing a 14% increase from 2023, wind farms produced a record 137.5 TWh of electricity in the first two months of 2024.

Meanwhile, nuclear output has decreased by approximately 3% each year over the same period. Consequently, if the growth rates of solar and wind energy generation persist, they may soon surpass nuclear plants as the primary source of clean energy in Europe.

Representing an uptick of approximately 15% from the figures recorded in January and February 2023, the combined electricity output from wind and solar farms amounted to nearly 162 TWh. This amount was only 7% lower than the total nuclear power generation for the same year.

So, what does this trend suggest?

Basically, solar and wind electricity output could surpass nuclear generation as early as next year - if output continues to grow at the same rate in early 2025.

Having said that, hopes and predictions still remained pinned on nuclear generation increasing at the currently observed rates.

These shifts could potentially leading to further reductions in fossil fuel-based generation, expediting regional efforts towards pollution reduction and propelling clean energy generation to unprecedented levels.