In October, wind energy production reached all-time records for that month in the main European markets. Photovoltaic energy production was also the highest for an October month in most markets. This increase in renewable energy production, especially wind energy, allowed market prices to remain stable with a downward trend in almost all markets, despite an increase in electricity demand and gas prices.
Solar photovoltaic, solar thermoelectric and wind energy production
In October 2023, solar energy production increased in most major European markets compared to the same month last year. The French and Iberian markets registered the largest increases, 32% and 28%, respectively. The Italian market registered an increase of 8.6%. In these markets, solar photovoltaic energy production in October 2023 broke historical records when compared to the same month in previous years, with the Spanish market leading the way with 2502 GWh. The exception was the German market, where photovoltaic energy production fell by 5.2% compared to October 2022.
In contrast, in October, solar energy production decreased in all markets analyzed at AleaSoft Energy Forecasting compared to the previous month, due to the seasonal change and the decrease in sunshine hours. The declines ranged from 50% in the German market to 26% in the Italian and Portuguese markets.
As for wind energy production, all major European markets registered a year-on-year growth in October 2023. Increases ranged from 16% in the Spanish market to 75% in the Italian market. In all analyzed markets, wind energy production in October 2023 broke historical records when compared to the same month in previous years. The German market registered the highest wind energy production, 14 278 GWh. Spain came in second place, producing 5829 GWh with this technology in the same period.
In October 2023, wind energy production also increased compared to the previous month in all major European markets. Increases ranged from 10% to 108% in the Italian and German markets, respectively.