Serbia expanded its energy capacity by 22 percent in 2024, representing a 3.7 percent increase compared to 2023. According to a report by SeeNext, the installed capacity of renewable energy sources reached approximately 3.9 gigawatts in 2024, marking a 36.7 percent growth over the past decade.
Serbia aims to increase the share of renewable energy to 45 percent by 2030, as outlined in the country’s Integrated National Energy and Climate Plan. Hydropower remains the largest contributor to the energy mix, while other renewable sources continue to play a smaller but growing role.
The report highlights that Serbia made significant progress, with the gross final energy consumption from renewable sources reaching 25.4 percent in 2023, surpassing the EU average of 24.6 percent, according to EUROSTAT data. Moving forward, Serbia plans to accelerate the adoption of renewables and strengthen policies to support a cleaner, more sustainable energy future.
However, the report also points out that Serbia has not aligned its transport sector goals with EU requirements and shows insufficient ambition in the heating and cooling sectors.
In 2024, Serbia’s total gross electricity production from renewable power plants reached 12,555 gigawatt-hours, accounting for over 33 percent of the country’s total gross electricity production, according to the 2025 Energy Balance report. The previous year, renewable electricity production was 14,447 gigawatt-hours, making up 36 percent of total electricity generation. Although renewable energy production declined by 13 percent in 2024 compared to 2023, it remained 20 percent higher than in 2022.
Hydropower remains the dominant renewable energy source in Serbia’s energy system. However, SeeNext’s report notes a shift toward more diverse renewable energy sources, especially wind and solar, to create a more sustainable and varied energy landscape.
To support this transition, Serbia’s Ministry of Mining and Energy launched an auction scheme in 2023 for 400 megawatts of wind power capacity and 50 megawatts of solar power capacity.
In December 2024, the Serbian National Assembly adopted the 2025 Budget Law, introducing the country’s first green budget annex. This allocates 118.5 billion dinars (approximately one billion euros) for 64 environmental projects.
These projects include building solar power plants with a total capacity of one gigawatt paired with battery storage. The green budget is now a mandatory part of the national budget. Its purpose is to improve resource allocation and promote projects that contribute to environmental protection, energy efficiency, greenhouse gas emission reductions, renewable energy, sustainable waste and water management, and the overall quality of life.
Beyond the core renewable sources of solar, wind, and hydropower, Serbia is investing in biomass and biogas potential. The country has significant biomass resources, particularly from agricultural and forestry residues.
Biogas production was relatively low in 2022 and 2023, at 252 gigawatt-hours, but increased by 17.5 percent to 296 gigawatt-hours in 2024. The Serbian government, in cooperation with the German Development Bank, supports projects to develop the biomass market with the goal of increasing bioenergy use in district heating and industrial applications. Several biogas plants are already operational, using agricultural waste and manure to generate electricity and heat.
