74% of EU electricity in early 2024 came from renewable and low-emission sources, reports ELDA from Eurelectric

• By 2024, renewable energy sources will account for more than 50% of energy production in the EU.
• 74% of the EU’s electricity comes from low-emission sources, while in 2023 this percentage was 68%.
• Electricity demand is declining due to economic factors, threatening investments in clean energy.

Clean electricity production in the EU is reaching new records. In the first half of 2024, renewables accounted for more than 50% of all energy production in Europe, while nuclear power maintained a stable share of 24%, according to Eurelectric’s ELDA platform. However, energy demand remains low due to slow growth, deindustrialization and mild weather. Stimulating demand is essential to sustain investment in clean energy.

Europe’s power generation is rapidly decarbonising, with the latest figures from Eurelectric revealing that 74% of electricity generated in the EU in the first half of 2024 came from renewable and low-carbon sources, up significantly from 68% in 2023. This increase is being driven by record inflows of renewable and stable nuclear power.

“The pace of change is impressive. This data documents that energy companies’ efforts to decarbonize are years ahead of any other sector,“ said Kristian Ruby, Secretary General of Eurelectric.

However, while supply data is encouraging, electricity demand tells a different story. In the first half of 2023, EU energy demand fell by 5.1% compared to the same period in 2022 and continued to fall in 2024, being 4.8% lower than in the first half of 2022. This decline is due to industry relocating abroad, warmer temperatures, energy savings and slow economic growth.

“Years of stagnation in electricity demand have now turned into a steady decline. Policymakers must urgently support the use of electricity to provide the necessary investment signals for clean generation,“ Ruby added.

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To address this, Eurelectric calls on the new Commission to propose an Electrification Action Plan within the first 100 days of its mandate. This plan should set a 35% indicative target for 2030 and introduce a clear electrification target in EU countries’ National Energy and Climate Plans (NECPs) to ensure progress. Without action, the EU risks failing to meet its climate goals, limiting renewable energy production and slowing down investment in the energy transition sector.

The electricity data platform, ELDA, operated by Eurelectric, is the industry reference for reliable electricity data. Collecting over 16 million data points per year from sources such as ENTSO-E and official EU statistics, the platform delivers unparalleled timeliness and accuracy, validated by industry experts.