In Serbia, electricity consumption over the past year, spanning from September 2025 to August 2026, shows that more than half of the country's electricity still originates from fossil energy sources. Coal alone contributes to more than half of the electricity generated, marking a significant portion of Serbia's energy mix. Gas and biofuels make up smaller shares of the fossil fuel segment. On the other hand, low-carbon energy sources, making up nearly a third of the electricity mix, include hydropower, which is a major contributor, and wind energy, which provides a relatively smaller yet notable share. Net imports complement the domestic electricity production, providing close to 8% of the country's electricity.

Is Electricity Growing in Serbia?

Regarding growth, the overall consumption of electricity in Serbia appears to be on a backslide, albeit slightly. With the latest figures indicating an electricity consumption of 5,429 kWh per person, Serbia doesn't quite reach the previous high of 5,568 kWh per person recorded in 2023. Similarly, low-carbon electricity generation has seen a decline with the latest figure of 1,730 kWh per person, falling from the previous record of 2,113 kWh per person in 2023, resulting in a noticeable reduction. The gap in achieving higher electricity consumption levels, especially from low-carbon sources, raises concerns about meeting growing future demands and transition goals.

Suggestions

Serbia has opportunities to enhance its low-carbon electricity generation by adopting strategies from other successfully diversifying regions. Countries like France and Slovakia demonstrate the potential of nuclear energy, which forms a significant portion of their energy mix. Meanwhile, regions such as Denmark and South Dakota illustrate the effectiveness of integrating wind power on a large scale. Additionally, following the example of regions like Nevada, Serbia could bolster its solar electricity output. Expanding nuclear and solar energy would not only help reduce reliance on fossil fuels, which contribute significantly to climate change and air pollution, but also assist in stabilizing and eventually increasing the country's electricity consumption.

History

Historically, Serbia's low-carbon electricity has primarily relied on hydropower, showing a fluctuating trend over the years. In the early 1990s, there were slight increases and decreases, while the mid-1990s saw modest growth. However, the beginning of the 21st century witnessed several years of decline, especially a significant drop in hydropower generation in 2011. Recovery attempts were seen, with more substantial growth in 2021, followed by cyclical declines in the subsequent years. The history underscores the importance of expanding and diversifying Serbia's low-carbon energy sources beyond hydropower, positioning nuclear and solar energy as essential players in the country's clean energy future. This strategic diversification would ensure consistent growth and resilience in the electricity sector moving forward.

Electricity Imports and Exports

Balance of Trade

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