According to energy data analysts EnAppSys, power generation from renewable sources in Europe last year reached a total of 1300 TWh, the biggest ever recorded. The output is almost 10% higher than the previous record set in 2021.

Most of the increase was attributed to the rise in wind generation. Data showed that wind composed 40% of the total, followed by hydropower generation with 36% while solar accounted for around 16%.

A separate report by AleaSoft Energy also revealed that wind generation increased in all major European economies. Most countries also set historical records with Germany reaching the highest record with a143 TWh. Installed capacity also increased in most countries in 2023 compared to the previous year with the Dutch market leading the way with the highest growth of 21%.

Furthermore, according to Reuters, based on data collected by Ember, in the last quarter of 2023, Europe produced “more electricity from wind than from coal for the first time, marking a key milestone for regional energy transition efforts.”

The increased contribution of wind energy to Europe’s electricity grid, combined with a fall in gas prices and reduced power demand, led to a drop in power prices. “In 2023, annual electricity market prices fell to levels similar to those of 2021, being mostly below €100/MWh,” writes AleaSoft Energy.