Electricity in Hungary in 2024

In 2024, Hungary's electricity consumption is drawing primarily from low-carbon sources. Over half of Hungary's electricity is generated from low-carbon sources, with nuclear power alone contributing nearly a third towards the national grid. Clean solar energy is also making a significant impact with almost a fifth of the share. Net imports account for over 22% of the electricity supply, reflecting Hungary's reliance on neighboring countries to meet its demands. Unfortunately, fossil energy sources like gas and coal still play a role in the electricity mix, responsible for just over 20%; however, with strategic planning and investment, these carbon-intensive sources may be replaced by cleaner alternatives. Biofuels contribute a small share, and wind power remains underutilized, providing only about 1% of the electricity.

Suggestions

To amplify low-carbon electricity generation and further decrease reliance on fossil fuels, Hungary should focus on expanding its existing nuclear and solar capabilities, as these sources already significantly contribute to the electricity mix. Observations from nearby neighbors, like Slovakia and Ukraine, show a strong reliance on nuclear power, with Slovakia generating 62% and Ukraine 55% of its electricity from this clean source. Furthermore, wind energy has been a significant success factor in countries like Denmark, where it accounts for more than half of the electricity generation. Although wind is currently underdeveloped in Hungary, learning from Denmark's model could prove beneficial in diversifying Hungary's low-carbon energy portfolio. Incorporating best practices from these countries will undoubtedly help Hungary enhance its sustainable energy generation.

History

Hungary's journey toward a more substantial low-carbon electricity base has a significant historical context. In the early years of the 1980s, there was a robust increase in nuclear energy generation, with steady increments occurring nearly annually. The early 2000s witnessed a temporary setback in nuclear power in 2003, with a substantial decline; however, recovery quickly followed. Biofuels saw a minor increase starting in 2004, though with notable volatility as seen by the decline in 2023. Solar energy has had impressive growth in recent years, especially in the early 2020s, with significant year-over-year jumps, illustrating the country's increasing investment and reliance on this sustainable energy source. With consistent focus and learned strategies, Hungary is well-positioned to expand its low-carbon electricity generation further.

Electricity Imports and Exports

Balance of Trade

Maximum Imports

Data Sources