While the European Union strives for energy transition and sustainable energy, Eurostat data for 2023 show us the state of import and export of green technologies, primarily solar panels, wind turbines and biofuels, and confirms the growing demand for renewable energy sources. However, there are certain economic challenges given that The EU continuously strives to increase its production and use of sustainable energy sources, but there is still a significant imbalance between imports and exports of green products.
In 2023, the EU imported significantly more of some products than it exported, indicating a high dependence on international markets for certain technologies. Imports of solar panels amounted to 19.7 billion euros, liquid biofuels to 3.9 billion euros, while wind turbines were imported with a value of only 0.3 billion euros.
As for solar panels, despite the decrease in import value by 12 percent compared to the previous year, the amount of imported solar panels increased by 5 percent. We can attribute the decrease in value to falling prices, which suggests better affordability and perhaps more competition in the market. China dominates as a source of imports, with as much as 98 percent of imports coming from there, making the EU significantly dependent on Chinese solar technologies.
As for exports, the EU recorded a 19 percent increase in the export value of solar panels, while the quantity increased by 37 percent. Switzerland was the largest single importer, with 31 percent of EU exports, while the United Kingdom followed with 25 percent, indicating increased demand for EU solar technologies in some of Europe’s most developed economies outside the EU.
Unlike solar panels, wind turbines showed the opposite trend – the EU exported a significantly higher value, as much as 2.0 billion euros, than it imported (0.3 billion euros). Exports of wind turbines recorded the largest increase in value, by 49 percent, with Great Britain as the leading market for these products. This suggests that the EU has a competitive advantage in wind technology on the global stage. Meanwhile, the liquid biofuels market faced a downturn, with both imports and exports decreasing in value and volume.
Although the EU has made progress in the development of green energy trade, it is clear that there is a dependence on imports, especially from China, which can pose a strategic challenge.
Energy portal
Source: energetskiportal.rs
