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Renewables accounted for more than half (52%) of all electricity generated in the European Union in the second quarter 2024, new data shows.
The advance of renewables sent fossil fuel consumption lower and helped reduce electricity prices for households in the bloc’s capital cities by 8%, relative to the same period a year before, according to the European Commission.
Renewables’ share of the mix was up 6 percentage points in a year as generation from fossil fuels slumped to just 24% of the total.
Nuclear generation was up slightly and comprised 24% of the mix, meaning clean sources made up 76% of the region’s total electrical output.
Offshore wind output surged 37% year on year, hydropower generation grew 21%, solar was up 20%, and onshore wind 6%. On the other hand, coal-fired generation fell 7% and gas output dropped 24%
Europe’s rapid energy transition is partly thanks to the effectiveness of its carbon market system, which places a price on pollution. Carbon prices averaged €69 per tonne of emissions in the second quarter, a 21% decline from a year before, per the European Commission.
Meanwhile, 567,000 new electric vehicles were sold in the EU in the quarter, a 5% decline after subsidies were scaled back in key markets. EVs accounted 20% of the new vehicle market.
