Hydropower boom: renewables overtake fossil fuels in Italy's energy sector

Electricity production from renewable sources in Italy exceeded that from fossil fuels for the first time in the first half of 2024, driven by a boom in hydroelectricity

18 July 2024

2' min read

Renewables are also taking off in Italy. In the first six months of 2024, the electricity production from renewable sources rose by 27.3% compared to the first half of 2023 and for the first time surpassed production from fossil fuels, which fell by 19% compared to the same period in 2023. This was announced by Terna. In the first six months of 2024, 43.8% of energy demand was covered by renewables (compared to 34.9% in the first six months of 2023), an all-time record on a six-month basis.

In the period under review, renewable capacity increased by 3.691 Gigawatts (of which 3.341 Gw were PV), which is 1.074 Gw higher than in the same period in 2023 (+41%).

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Wind and photovoltaics +17%

Between June 2023 and June 2024, installed PV and wind capacity increased by 6.831 Gw (+17.3%) to a total of 46.321 Gw. From January to June 2024, the share of coal-fired generation fell by 77.3%.

Hydro boom

Hydroelectric production reached a record result (25.92 TWh, +64.8% compared to 15.73 TWh in the January-June 2023 period), thanks to a considerable availability of water in the North due to abundant rainfall, against a scarcity of resources in the South.

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The National Requirement

In the first half of the year, national demand grew by 1.1% compared to the same period in 2023 (+0.5% the adjusted value), confirming a moderately positive trend, but at levels still lower than in 2022. The Monthly Index of Industrial Electricity Consumption, which examines the industrial consumption of so-called energy-intensive companies, recorded a growth of 2.7% compared to June 2023. In particular, the steel, cement, lime and gypsum, paper and chemical sectors were positive. In decline were ceramics and glass, non-ferrous metals, food and transport equipment. Mechanics were stable.

The Monthly Services Index recorded a positive change of 2.2% in April 2024 compared to April 2023. In particular, among those with positive changes were Professional, scientific and technical activities, transport and storage, and real estate. Among those with a negative change were Veterinary Services, Finance and Insurance and Hotels, Restaurants and Bars. The latter were affected by a contraction in tourist arrivals caused also by a different calendar of Easter holidays, which this year fell in March.