Renewable energy overtakes fossil fuels in Europe

advancement of renewable energy

Even as oil extraction continues as if no alternative energy sources exist, potentially leading to unprecedented overproduction, this year has seen the emergence of seven companies within the Chinese photovoltaic sector that now pose a significant challenge to oil corporations. These companies have done so by selling solar panels at a loss to capture market share, making the global community dependent on their technology.

As a result, renewable energy sources are gaining prominence. A recent report indicates that renewable energy has overtaken fossil fuels, currently representing 30% of the electricity supplied in the European Union.

Renewable energy in the world

ember chart

Renewable energy sources are steadily making their presence felt across Europe. According to analysts at the Ember Group, This important milestone was reached in the first half of 2024For the first time, electricity generation from solar and wind energy surpassed that from fossil fuels within the European Union. In particular, these renewable sources accounted for 30% of the total electricity supplied in the Union.

The analysis indicates that 13 member countries are now producing more electricity from these two sources, with Germany, Belgium, Hungary and the Netherlands having achieved this milestone for the first time. In Spain, the statistics are alarming: during the month of May, Solar and wind energy accounted for 50% of electricity generationThis unprecedented event is accompanied by Poland, which has also reached record levels.

The use of solar and wind energy has increased significantly over the past decade, showing an almost relentless upward trajectory, while energy derived from fossil fuels reached a new peak in 2017 before suffering a dramatic decline.

Use of renewable energy

growth in the use of renewable energy

During the first half of the year, Fossil fuels accounted for 27% of electricity generation within the EU, which marks a 17% decrease compared to the previous period. Analysts indicate that this reduction in fossil fuel use occurred despite the high energy demand experienced during the COVID-19 pandemic and the gas price crisis of recent years. This period has also seen a recovery, although the graph illustrates a stagnation of renewable energy sources.

Between the first half of 2023 and the first half of 2024, coal saw a 24% decline, while gas saw a 14% reduction. According to Chris Rosslowe, an analyst at Ember, “We are witnessing a historic shift in the energy sector, and it is happening quickly.” He also points out that “with the rise of wind and solar energy, the role of fossil fuel-based energy is declining. This indicates a long-term transformation, but it has become increasingly evident following unprecedented actions, such as the installed capacity for photovoltaic panels in 2023 and the first months of 2024.

Furthermore, this change is part of a collaborative strategy aimed not only at reducing emissions by decreasing dependence on fossil fuels, but also at addressing the efforts of numerous Member States to reduce their dependence on gas imports, particularly in light of the ongoing conflict in Ukraine with Russia.

While we await the full data for 2024, it remains to be seen whether the dominance of renewable energy will become firmly established. It is important to recognise that this trend is not limited to Europe alone. The United States exemplifies this energy transition, with California experiencing a glut of solar energy production and Texas, historically dependent on oil, now making significant investments in photovoltaic installations. China plays a crucial role in this energy revolution, as it boasts such high levels of production that it faces challenges in managing the waste generated by modernizing solar and wind technologies.

Energy transition

solar and wind energy

This transformation represents a significant achievement in the region’s energy transition. The decline in fossil fuel consumption is aligned with a modest recovery in electricity demand, which increased by 0,7% following the COVID-19 pandemic and the gas price crisis. However, the expansion of renewable energy sources, particularly wind and solar, not only offset this increase in demand but also substantially outperformed conventional energy sources.

A significant reduction in coal consumption was observed, marked by a 24% decrease, while natural gas use experienced a 14% decrease. These findings highlight a fundamental transformation, as European energy policies increasingly favour less dependence on fossil fuels and greater integration of clean energy sources.

The report stresses that the rise in electricity generation from wind and solar sources is not simply a seasonal phenomenon. While improved weather conditions and increased hydroelectric production played a role, the main driver was the continued expansion of installed renewable energy capacity.

Spain has distinguished itself as one of the leading nations in the implementation of renewable energy sources. In May 2024, More than 50% of the country's electricity was generated from wind and solar energy, a milestone that attests to the effectiveness of its energy policies.

This important transformation consolidates the role of the European Union as a world leader in the fight against climate change, demonstrating that the shift to a system based on renewable energies is not only feasible but also economically advantageous and effective.

Software solutions are available to help companies track their decarbonization goals, improve their energy diversification strategies, assess their sustainability performance, reduce their environmental impact, and effectively manage operational and security risks.

I hope that with this information you can learn more about how renewable energy is outperforming fossil fuels in Europe.


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