EU Hits 50Pc Renewable Electricity Milestone

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The latest State of the Energy Union report shows that renewable energy has become a major power provider in the EU, but it also warned that efforts need to be stepped up to meet important climate goals.

The EU has revealed significant progress in its renewable energy goals and in reducing its emissions, though it notes some key challenges to its progress.

The bloc's latest State of the Energy Union report shows that for the first half of 2024, renewable energy such as solar and wind met 50pc of the electricity demand. The report also found that the EU's gas demand dropped by 138bn cubic metres between August 2022 and May 2024.

Geopolitical issues played a role in changing gas demand - the report says the share of Russian gas in EU imports dropped from 45pc in 2021 to 18pc by June 2024, while imports from other countries including Norway and the US have increased.

The EU also reported some success in reducing greenhouse gas (GHG) emissions. The bloc's emissions fell by 32.5pc from 1990 and 2022, while the EU economy grew by around 67pc in the same period.

However, the report noted that efforts in the renewable energy sector will need to be stepped up to meet the EU's goal of reducing energy consumption by 11.7pc by 2030 and to reduce its greenhouse gas emissions.

Economy wide GHG emission projections, recently submitted by Member States, are expected to show some gap with the EU climate ambition," the EU report said. To stay on track with the EU 2030 reduction target and climate neutrality by 2050, the EU needs to pick up the pace of change and increase the focus on areas where the required emission reductions are significant."

Maro efovi, executive VP for the European Green Deal, said the report shows unprecedented progress" despite being in turbulent times and facing challenges ahead.

Emissions are falling, and renewables play a prominent role in our energy system today," efovi said. We should swiftly implement the new policy and regulatory framework to address the elevated energy prices, and accelerate development of infrastructure."

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