EU Registers Rise In Renewals In 2023
A new report from the European Commission shows that there was considerable progress in the European Union’s (EU) clean energy transition in 2023. Data reveals that 44% of the EU’s annual electricity production was generated by renewables, with fossil generation falling to 32% (relative to 38% and 39% respectively in 2022). Solar and wind registered a 15% rise in generation in 2023 (+87 TWh). Onshore wind generation rose by 14% (+51 TWh), and solar generation grew by 19% (+31 TWh). Hydropower improved its output by 17% (+49 TWh), while offshore wind generation rose by 10% (+5 TWh). A new record of installed renewable capacity was reached in the EU in 2023, with added solar and wind capacity having increased by 14% on a yearly basis (from 320 TW in 2022, to 365 TW in 2023). Solar installed capacity rose by 22%, while onshore and offshore wind grew by 8% and 11%, respectively.
According to the report, fossil fuel generation dropped by 24% in 2023. Coal-fired generation fell by 28% (-118 TWh), whereas natural gas generation dropped by 20% (-88 TWh). The fall in fossil fuel generation was supported by lower demand and sustained renewables generation. Nuclear output rose by 2% (+9 TWh) in 2023.
Another positive development was confirmation that sales of electric vehicles (EVs) in the EU reached 2.3 million in 2023 (+16%), with close to 643,000 new EVs sold in Q4 2023. These quarterly figures translate into an impressive 25% of market share — lower than China, but two-and-a-half times the market share registered in the United States.
