11 EU states have already met their 2020 renewables targets

Nordic countries have performed the strongest

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According to the World Economic Forum, nearly half of the European Union's 28 member states have achieved, or are close to achieving, their 2020 renewable energy targets.

The top performing countries are Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, Italy, Hungary, Lithuania, Romania and Sweden, who have already hit their 2020 target. Not far behind are Austria, Greece and Latvia, who seem set to reach their target soon.

With 54.5% of its energy coming from renewables, Sweden was the top performer by a large margin. In second place, with 41%, came Finland, followed by Latvia with 39% and Denmark with 35.8%. Despite being in third place, Latvia is still 1% away from its target.

Performing the worst was the Netherlands, France, Ireland and the UK.

Measurement of renewable energy usage began in the EU in 2004. Back then, it made up for 8.5% of the total. That figure had risen to 17.5% by 2017.

Even though the overall share of renewables being used in the EU has doubled since records began, the overall rate of adoption has begun to slow down. Should this trend continue, it could lead to several member states, and by extension the whole EU, to miss its 2030 target, to achieve 32% renewable contribution to energy consumption.

The reasons for the slowdown in uptake has been put down to an increase in the total amount of energy consumed. Energy coming from renewables was not able to meet the growing demand, leading to the European Environment Agency (EEA) to call for further investment and more ambitious energy infrastructure projects. 

Last year global investment in renewable energy such as solar and wind energy, as well as energy tech like smart meters, hit $332 billion - a decrease of 8% on the previous year. The biggest investor globally in the clean energy sector was China, which invested around $100 billion in 2018. Nonetheless, this was still a 32% drop on the previous year. Withdrawal of generous subsidies in the country also saw a 53% decline in investment in solar power.

There are still several positive signs though. Falling costs have influenced spending. While cost-per-unit has fallen, the number of installations has risen. Despite a drop in spending in 2018, there was an increase in solar installation capacity on the previous year, up to 109 gigawatts from 99 gigawatts.

In a report released in January 2018, the International Renewable Energy Agency (IRENA) estimated that renewable energy will be cheaper than fossil fuels by 2020, as demand for the technology as well as increased competition drives down prices, and consumer pressure increases.

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