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Europe’s Electricity Production by Country and Fuel Type

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The share of electricity generated by different energy sources has changed significantly in Europe over the last two decades.

The major story here is the decline in consumption of fossil fuels. More specifically, the combined share of petroleum products and solid fuels (meaning coal or shale oil) has fallen from 65.1% of total consumption in 1990 to 50.6% by 2013.

Total European energy consumption

Renewables have steadily increased in consumption since the mid-2000s, and as a result the amount of electricity driven by renewables was 2.8x higher in 2013 (11.8%) than it was in 1990 (4.3%). The energy source that has seen the least fluctuations in usage is nuclear energy. Producing a peak of 14.5% of electricity in 2002, nuclear energy usage has recently dropped back to 13.6% in 2013.

Consumption of gas is also an interesting story. Natural gas has been used more prominently in recent years as it became regarded as more environmentally friendly than other fossil alternatives. However, as Europe has tried to reduce dependence on Russian gas, consumption has started to wane since 2010.

Here’s how specific countries look in terms of their electricity consumption per capita:

Europe's Electricity Production by Country and Fuel Type

This creates some more granular stories that are worth delving into.

Estonia is the country that relies the most on solid fuels, with 86.6% of its energy needs met this fuel type. Interestingly, coal is not the solid fuel that is powering most of the country – that accolade goes to Estonia’s highly-developed and strategic shale oil resource. In this case, shale oil counts as a “solid fuel”, as it is essentially sedimentary rocks with oil trapped in them. Estonia actually has the two largest shale oil power plants in the world, and the industry employs 6,500 people in the country.

Malta and Cyprus rely heavily on petroleum products, which account for 98.3% and 92.4% of consumption respectively. This makes sense, as these small island nations do not have the populations or resources to warrant big infrastructure spending on things like nuclear power plants. They simply import what they need, which allows them flexibility.

France is the biggest user of nuclear power, with 74% of consumption coming from that source. Belgium, Hungary, and Slovakia have more than half of their power coming from nuclear.

Austria uses the most renewable energy with 80%. That said, the vast majority of this comes from hydro, where Austria uses its mountainous terrain to its advantage.

Want to dive more into the data? Here it is in its full glory:

Europe energy consumption data

Original graphics by: afschakelplan, Eurostat

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Energy

Charted: 4 Reasons Why Lithium Could Be the Next Gold Rush

Visual Capitalist has partnered with EnergyX to show why drops in prices and growing demand may make now the right time to invest in lithium.

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The teaser image shows a bubble chart showing that the price of a Tesla is similar to that of other major auto manufacturers.

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The following content is sponsored by EnergyX

4 Reasons Why You Should Invest in Lithium

Lithium’s importance in powering EVs makes it a linchpin of the clean energy transition and one of the world’s most precious minerals.

In this graphic, Visual Capitalist partnered with EnergyX to explore why now may be the time to invest in lithium.

1. Lithium Prices Have Dropped

One of the most critical aspects of evaluating an investment is ensuring that the asset’s value is higher than its price would indicate. Lithium is integral to powering EVs, and, prices have fallen fast over the last year:

DateLiOH·H₂O*Li₂CO₃**
Feb 2023$76$71
March 2023$71$61
Apr 2023$43$33
May 2023$43$33
June 2023$47$45
July 2023$44$40
Aug 2023$35$35
Sept 2023$28$27
Oct 2023$24$23
Nov 2023$21$21
Dec 2023$17$16
Jan 2024$14$15
Feb 2024$13$14

Note: Monthly spot prices were taken as close to the 14th of each month as possible.
*Lithium hydroxide monohydrate MB-LI-0033
**Lithium carbonate MB-LI-0029

2. Lithium-Ion Battery Prices Are Also Falling

The drop in lithium prices is just one reason to invest in the metal. Increasing economies of scale, coupled with low commodity prices, have caused the cost of lithium-ion batteries to drop significantly as well.

In fact, BNEF reports that between 2013 and 2023, the price of a Li-ion battery dropped by 82%.

YearPrice per KWh
2023$139
2022$161
2021$150
2020$160
2019$183
2018$211
2017$258
2016$345
2015$448
2014$692
2013$780

3. EV Adoption is Sustainable

One of the best reasons to invest in lithium is that EVs, one of the main drivers behind the demand for lithium, have reached a price point similar to that of traditional vehicle.

According to the Kelly Blue Book, Tesla’s average transaction price dropped by 25% between 2022 and 2023, bringing it in line with many other major manufacturers and showing that EVs are a realistic transport option from a consumer price perspective. 

ManufacturerSeptember 2022September 2023
BMW$69,000$72,000
Ford$54,000$56,000
Volkswagon$54,000$56,000
General Motors$52,000$53,000
Tesla$68,000$51,000

4. Electricity Demand in Transport is Growing

As EVs become an accessible transport option, there’s an investment opportunity in lithium. But possibly the best reason to invest in lithium is that the IEA reports global demand for the electricity in transport could grow dramatically by 2030:

Transport Type202220252030
Buses 🚌23,000 GWh50,000 GWh130,000 GWh
Cars 🚙65,000 GWh200,000 GWh570,000 GWh
Trucks 🛻4,000 GWh15,000 GWh94,000 GWh
Vans 🚐6,000 GWh16,000 GWh72,000 GWh

The Lithium Investment Opportunity

Lithium presents a potentially classic investment opportunity. Lithium and battery prices have dropped significantly, and recently, EVs have reached a price point similar to other vehicles. By 2030, the demand for clean energy, especially in transport, will grow dramatically. 

With prices dropping and demand skyrocketing, now is the time to invest in lithium.

EnergyX is poised to exploit lithium demand with cutting-edge lithium extraction technology capable of extracting 300% more lithium than current processes.

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