Germany achieved a historic milestone in its renewable energy sector during the first half of 2024, generating more power from renewable sources than ever before, according to a report by the Fraunhofer Institute for Solar Energy Systems (ISE).
The report highlighted that 65% of Germany's net public electricity generation from January to June came from renewable sources, marking a significant increase fueled by declining fossil fuel generation and electricity prices.
Solar photovoltaic (PV) systems contributed 32.4 terawatt-hours (TWh), a 15% rise compared to the same period in 2023. Wind power led the renewable energy output with 73.4 TWh, constituting 34.1% of the total net public electricity generation, Fraunhofer noted, setting a new record.
Despite wind power leading in actual generation, the report pointed out a contrasting trend in capacity expansion between wind and solar technologies. While solar capacity expanded significantly with over 5 gigawatts (GW) added by April, wind power expansion was described as “weak,” with only 1 GW of new capacity added in the first half of the year.
Germany's transition towards solar power has been pivotal, with expectations to surpass 88 GW of installed solar capacity by year-end 2024, according to the national trade association Bundesverband Solarwirtschaft (BSW Solar). The report forecasts Germany to lead new clean power capacity additions in the EU this year, primarily driven by solar PV.
In parallel with the rise of renewable energy, Fraunhofer highlighted a decrease in fossil fuel generation's share from 39.6% to 35.0% since 2015. The institute emphasized the critical role of expanding energy storage capacity, noting additions of systems with 1.8 GW output and 2.5 GWh capacity connected to the German grid in the first half of 2024.
The decline in electricity prices across Europe, dropping from €100.54/MWh to €67.94/MWh in day-ahead auctions, was attributed to broader market dynamics following the resolution of post-Ukraine invasion shockwaves.
