GlobalData: Renewable energy to dominate Italy’s power generation mix by 2035
Published by Jessica Casey,
Editor
Energy Global,
The Russian invasion of Ukraine has had a profound impact on the global energy market. The over reliance of European nations on Russian fossil fuels has posed a significant challenge to supply security. Italy, as one of the largest importers of natural gas, sourced 40% of its gas from Russia until 2021. However, in 2022, Italy reduced its dependence on Russian imports to 19% of its total natural gas imports. Against this backdrop, Italy is projected to achieve a cumulative installed capacity of 162.7 GW from renewable sources by 2035, with the share of renewables increasing to 69% in its power capacity mix, according to GlobalData, a leading data and analytics company.
GlobalData’s latest report, “Italy Power Market Size, Trends, Regulations, Competitive Landscape and Forecast, 2024 – 2035” reveals that Italy is expected to have 107.7 GW of renewable capacity by 2030, with the share of renewables in total annual generation reaching around 59% by 2030.
Sudeshna Sarmah, Power Analyst at GlobalData, commented: “The severe drought in 2022 significantly impacted Italy's power market, as hydropower genera-tion decreased from 31.2 TWh in 2021 to 13.7 TWh in 2022. In the absence of nuclear power, the country increased its thermal power generation by 8.4%, rising from 163.4 TWh in 2021 to 177.1 TWh in 2022. Additionally, electricity imports reached a total of 47.4 TWh.”
In 2022, the Italian government introduced the ‘National Plan for the Containment of Natural Gas’, aimed at reducing the country's natural gas consumption. As a supplementary measure, Italy has begun importing natural gas from Azerbaijan, Algeria, and Libya. While this provides temporary relief, the nation must focus on enhancing its renewable energy capacity to achieve self-sufficiency. In 2023, Italy revised its renewable energy generation objective, setting a new target of achieving 65% by 2030.
Sarmah added: “The upgrade of renewable targets should also come up with robust measures and a clear roadmap with definitive objectives to achieve them and overcome its dependency on natural gas and electricity imports.”
“Italy remains committed to eliminating coal-powered plants by 2025. The government aims to strengthen its national grid and prioritize the swift development of renewable energy sources. Additionally, the country is expected to revise its National Energy and Climate Plan (NECP). The current target outlined in the NECP is to reach 93.2 GW of renewable power capacity by 2030, with solar PV systems ex-pected to contribute 50 GW and wind power slated to provide 19.3 GW.”
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Summer 2024 issue
The Summer 2024 issue of Energy Global starts with a guest comment from Terrawatt on the streamlining of the permitting process in Italy, before moving on to a regional report from Frost & Sullivan on the energy landscape in Asia Pacific. This issue looks at key topics such as wind installation vessels, offshore wind turbine foundations, weather analysis, solar maintenance, and more!
Read the article online at: https://www.energyglobal.com/other-renewables/10062024/globaldata-renewable-energy-to-dominate-italys-power-generation-mix-by-2035/
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