Solar surpasses coal in 2024, marking a record year of Renewable Energy growth in the European Union.

According to the organization Ember, 2024 has been a landmark year for Renewable Energy in Europe, with solar energy becoming the fastest-growing power source in the EU, experiencing a 22% increase, driven by 66GW in new solar capacity additions. This is equivalent to 450,000 solar panels being added per day.

Clean energy sources reached a record 71% of total EU power generation. This, implies a reduction in the import of fossil gas and coal by more tan €50 billion.

On the other hand, wind power continued to be the second-largest source of energy in the EU, with generation growing by 7TWh in 2024 to reach 477 TWh. However, this growth is lower tan the average anual increase observed from 2019 to 2023, likely due to les favorable wind conditions.  Despite this, wind power remains cost-competitive with fossil fuel generation and is still cheaper than gas-fired power in Europe. With natural gas prices rising in 2024, wind power has become even more competitive, helping to reduce electricity prices in the EU. Furthermore, Ember reports that several factors suggest annual capacity additions are expected to increase from an estimated 13 GW in 2024 to nearly 30 GW by 2030.

Since its launch in 2019, the European Green Deal has spurred a dramatic increase in wind and solar power. The growth in renewable sources also helped push renewables to nearly half (47%) of total EU electricity generation. Clean sources collectively reached a record high of 71%, driven by the expansion of solar and wind power.

The growth of renewable energy sources, particularly solar power and wind power, offers a promising outlook for the future of Europe, with a more sustainable, cleaner, and more competitive electricity system.