New energy sources account for more than 50% of the electricity supply, the potential of photovoltaic power generation should not be underestimated
In the first half of 2024, the energy structure of the European continent underwent a significant change, with renewable new energy sources occupying half of the power supply. According to the latest data published by Eurelectric, the European electricity trade association, renewable energy generated a total of 692 TWh of electricity, accounting for 50.39% of Europe's total electricity supply. This percentage is almost double that of fossil fuel generation, which generated only 359TWh of electricity over the same period. Among renewables, onshore wind and hydropower were the largest contributors, contributing 228.8 TWh and 220.7 TWh of electricity, respectively. Although solar power, at 137 TWh, is relatively small, its growth potential should not be underestimated.
Photovoltaic power generation growth and the share of low-carbon energy
Despite its current small contribution to renewable energy, solar power is growing strongly. Solar power generation is expected to reach 274 TWh by the end of 2024, exceeding that of coal-fired power plants for the first time. This expectation not only shows the huge potential of solar power, but also reflects Europe's strong determination in promoting energy transition. In addition, Eurelectric's data also shows that low-carbon energy sources (including renewables and nuclear) account for 74% of the EU's electricity supply in the first half of 2024, up from 68% in 2023. This change shows that Europe has made significant progress in reducing carbon emissions and promoting green energy.
Challenges and policy support for the European Photovoltaic power industry
Despite significant growth in installed capacity and electricity generation, the European PV industry still faces a number of challenges. One of the most significant issues is the financial viability of locating upstream manufacturing capacity in Europe. With the rapid growth of installed solar capacity globally, Europe needs to consider how it can establish a more competitive PV manufacturing base locally. This issue was at the center of discussion at the Intersolar trade show in Germany last month. Expansion of photovoltaic manufacturing operations in Europe not only helps to reduce costs, but also to promote local employment and economic development.
In addition, Europe's electricity demand has been declining in recent years. According to Eurelectric, European electricity demand in the first half of 2024 is 2.6% lower than in the same period of 2022, while electricity demand in the first half of 2023 is 3.4% lower than in the same period of the previous year. This trend could lead to an imbalance between renewable energy supply and demand, which in turn could affect the long-term financial viability of renewable energy generation. Therefore, policymakers need to take measures to support access to electricity and provide the necessary investment signals for clean energy development.
To address these challenges, policymakers have taken a number of steps. Most notable is the implementation of the Net Zero Industry Act (NZIA), which aims to facilitate Europe's transition to net-zero emissions through policy and financial support. In addition, the European Solar Academy program, which was launched last month at EUROSOLAR International, demonstrates Europe's commitment to education and training in order to cultivate more professionals in the field of solar energy. These measures not only help to address current challenges, but also lay a solid foundation for the future development of the European PV industry.
شركة بولاند للطاقة المتجددة المحدودة، شركة متكاملة للطاقة الجديدة، تُقدم لكم حلولاً متكاملة عالية الجودة لطاقة الرياح والطاقة الشمسية وأنظمة تخزين الطاقة. بولاند الآن شركة تابعة لشركة CRRC، وهي مسؤولة عن التوسع الخارجي لأعمال CRRC في مجال طاقة الرياح والطاقة الشمسية. نمتلك سلسلة توريد داخلية متكاملة نسبيًا، وشبكة خدمات، وجودة منتجات وتقنيات ممتازة.
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