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26 January 2022

EU doubles its renewable energy share since 2004

At 60%, Sweden had by far the highest renewables share among the EU member states in 2020, ahead of Finland (44%) and Latvia (42%).

By Energy Monitor Staff

The share of renewables in the EU’s energy mix increased from 9.6% to 22.1% between 2004 and 2020, according to the bloc’s statistical office, Eurostat. The decrease in fossil fuel consumption brought about by the Covid-19 pandemic helped the EU surpass its 2009 target of 20% renewables by 2020.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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A solar farm in Andalucia, Spain. (Photo by Denis Zhitnik via Shutterstock)

Sweden had by far the highest share of renewables (60%) among the EU member states in 2020, ahead of Finland (44%) and Latvia (42%). At the opposite end of the scale, the lowest proportions of renewables were registered in Malta (11%), followed by Luxembourg (12%) and Belgium (13%).

A total of 26 countries met or exceeded their EU-agreed national renewables targets for 2020. The countries that did best were Sweden, Croatia (both +11%) and Bulgaria (+7%). Conversely, France missed its target (-3.9%), the Netherlands had to rely on a statistical transfer from Denmark for its last 3%, and Poland revised its data on the final energy consumption of solid biomass, increasing its share of renewables by 3% and consequently also achieving its target.

EU lawmakers are currently rushing to get the European Commission’s 'Fit for 55' climate and energy package ready for its first votes before the end of the French EU presidency in July. Demand for fossil fuels has picked up, threatening a temporary win on climate in 2020.

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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