From November 2025 to October 2026, fossil fuels supplied about 58% of Serbia’s electricity consumption, with coal alone accounting for 54% and gas about 4%. Low-carbon electricity supplied around 30%, led by hydropower at 23%, followed by wind at almost 5% and biofuels at about 1%. Net imports covered roughly 11% of consumption; their generation sources are not specified. Serbia therefore still depends heavily on fossil electricity, leaving substantial scope for clean generation to reduce the climate and air-pollution impacts of coal and gas.

Is Electricity Growing in Serbia?

Serbia’s electricity consumption is essentially stagnant rather than meaningfully growing. The latest 2026 figure of 5,569 kWh per person exceeds the previous record, set in 2023, by just 1 kWh per person. More concerningly, low-carbon electricity generation stands at about 1,690 kWh per person, roughly 425 kWh—or 20%—below its 2023 record of about 2,110 kWh. This combination of flat consumption and lower clean generation underscores the need to expand low-carbon electricity to support electrification and future demand, including from AI.

Suggestions

Serbia should prioritize substantial solar expansion, develop nuclear electricity, and add more wind generation alongside its existing hydropower. Nearby regions offer useful examples: North Macedonia generates 40% of its electricity from solar, while Hungary gets about 24% from solar and 29% from nuclear. Bulgaria combines roughly 20% solar with 36% nuclear, and Slovenia obtains 43% from nuclear. These examples provide relevant models for building a broader clean electricity mix. For wind, Greece’s 21% share demonstrates another regional opportunity. Serbia can learn from these places by strengthening project delivery, expanding grid connections, and establishing the skills and institutions needed for a nuclear program.

History

Serbia’s recorded low-carbon electricity history is dominated by substantial year-to-year swings in hydropower. In the 1990s, gains of around 1–2 TWh in 1991, 1995 and 1996 were interspersed with declines of about 1 TWh in 1993 and 1997. The 2000s remained uneven, with declines in 2000, 2003 and 2006 offset by increases in 2004 and 2009. A 1.4 TWh gain in 2010 was followed by a sharp 3.3 TWh fall in 2011; further fluctuations occurred in 2017–2019. More recently, hydropower rose by 2.2 TWh in 2021, fell by 2.7 TWh in 2022, and rebounded by 3.7 TWh in 2023 before declining by 2.5 TWh in 2024 and another 1.9 TWh in 2025. Those consecutive recent declines make expanding solar, nuclear and wind especially important for sustained growth in clean electricity.

Electricity Imports and Exports

Balance of Trade

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