From October 2025 through September 2026, fossil fuels supplied more than half of Serbia’s electricity consumption—about 58%. Coal dominated at roughly 54%, while gas contributed nearly 4%. Low-carbon sources supplied almost a third, led by hydropower at 24%, followed by wind at about 5% and biofuels at around 1%. Net imports covered approximately 11%; their generation mix is not specified, so they cannot be classified here as either fossil or low-carbon electricity. Serbia therefore remains heavily dependent on fossil electricity, particularly coal, with associated climate and air-pollution impacts.

Is Electricity Growing in Serbia?

Serbia’s electricity consumption is essentially flat rather than meaningfully growing. The latest 2026 figure of 5,571 kWh per person exceeds the previous record, set in 2023, by just 3 kWh per person. More concerningly, low-carbon electricity generation stands at 1,720 kWh per person, about 393 kWh—or 19%—below its 2023 record of 2,113 kWh per person. This combination of barely rising consumption and reduced clean generation highlights the need to expand low-carbon electricity supply to support electrification and future demand, including from AI.

Suggestions

Serbia can strengthen its clean electricity supply by expanding solar and wind while developing nuclear generation. Nearby regions offer useful examples: solar supplies 40% of electricity generation in North Macedonia, 23% in Hungary and 19% in Bulgaria, demonstrating the substantial role solar can play in the region. Greece generates 21% of its electricity from wind, offering another relevant model for diversifying Serbia’s low-carbon mix. Nuclear provides about 40% of generation in Slovenia, 37% in Bulgaria and 66% in Slovakia. Serbia can learn from these regional experiences in project delivery, workforce development and electricity-system planning, pairing substantial solar deployment with nuclear development and additional wind capacity.

History

Serbia’s recorded low-carbon electricity history is dominated by repeated swings in hydropower generation. During the 1990s, annual increases of roughly 1–2 TWh in 1991, 1995 and 1996 were interrupted by declines of about 1 TWh in 1993 and 1997. The 2000s remained uneven, with declines in 2000, 2003 and 2006, alongside gains of 2 TWh in 2004 and 1 TWh in 2009. An increase of 1.4 TWh in 2010 was followed by a sharp 3.3 TWh fall in 2011; further declines in 2017 and 2019 surrounded a 1.6 TWh recovery in 2018. More recently, gains of 2.2 TWh in 2021 and 3.7 TWh in 2023 alternated with losses of 2.7 TWh in 2022, 2.5 TWh in 2024 and 1.9 TWh in 2025. These disappointing recent declines reinforce the case for expanding solar, wind and nuclear to build a larger, more diversified clean electricity supply.

Electricity Imports and Exports

Balance of Trade

* 12M = Last 12 months (Oct 2025 – Sep 2026) — a rolling 12-month period, not a calendar year.