Surging solar and wind electricity output displaced one-fifth of the European Union's fossil-fuel power generation between 2019 and 2023, energy think tank Ember reports.

During the tenure of the current European Commission, which began in 2019, wind and solar power generation soared by 46%, according to the report cited by Reuters. Capacity installations surged by 65% during this period, with wind power increasing by 31% to 219 gigawatts (GW) and solar capacity more than doubling to 257 GW.

The rising share of solar and wind capacity and generation are significantly displacing fossil fuels. In April 2024, the EU recorded a record-low in fossil fuel power generation and a record-high share of renewables in the electricity mix. For the first time, fossil fuels produced less than a quarter of EU electricity, while renewables reached 54%, driven by wind, solar, and a recovery in hydropower compared to April 2023, when droughts had reduced hydropower generation.

Generation from fossil fuels in April 2024 fell by 24% compared to the previous year, reaching its lowest monthly level at 46 TWh. Coal and natural gas power generation both fell sharply, with coal providing 8.6% of the EU's electricity mix--its lowest share ever--and gas-fired generation making up 12.1%, the lowest in at least eight years.

Ember's analysts highlight that while the national targets of EU member states are approaching the levels needed to meet the bloc's REPowerEU targets, a further push is needed to close the remaining gap and accelerate deployment. According to the think tank, renewables are on track to generate 66% of EU electricity by 2030, up from 44% in 2023. However, this still falls short of the REPowerEU target of 72%.

Source: oilprice.com