As the European Union pursues its energy transition and sustainable energy goals, Eurostat data for 2023 reveals the current state of green technology imports and exports, focusing primarily on solar panels, wind turbines, and biofuels, confirming the growing demand for renewable energy sources. However, certain economic challenges persist as the EU aims to increase its production and usage of sustainable energy, while a significant imbalance between the import and export of green products remains.
In 2023, the EU imported considerably more of certain products than it exported, indicating a strong dependence on international markets for specific technologies. Solar panel imports amounted to 19.7 billion euros, liquid biofuel imports to 3.9 billion euros, while wind turbines were imported at a value of only 0.3 billion euros.
Despite a 12 percent decrease in the import value of solar panels compared to the previous year, the quantity of imported panels increased by five percent. This drop in value can be attributed to falling prices, suggesting improved affordability and potentially greater market competition. China dominates as the main source of solar panel imports, accounting for a staggering 98 percent of the total, making the EU highly dependent on Chinese solar technology.
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Regarding exports, the EU recorded a 19 percent increase in the export value of solar panels, with quantities rising by 37 percent. Switzerland was the largest individual importer, accounting for 31 percent of EU solar panel exports, followed by the United Kingdom with 25 percent, highlighting the growing demand for EU solar technology in some of the most developed European economies outside the EU.
In contrast to solar panels, wind turbines showed the opposite trend – the EU exported far more than it imported, with exports totaling 2.0 billion euros compared to imports of just 0.3 billion euros. Wind turbine exports saw the highest value growth, increasing by 49 percent, with the United Kingdom emerging as the leading market for these products. This suggests that the EU holds a competitive edge in wind technology on the global stage. Meanwhile, the liquid biofuel market faced challenges, with both import and export values and volumes declining.
Although the EU has made progress in developing trade in green energy, it is evident that the bloc remains dependent on imports, particularly from China, which presents a strategic challenge moving forward.
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