section_path: Economy/Energy
section_name: Energy
paragraph_text: Energy
  
  Hungary's total energy supply is dominated by fossil fuels, with natural gas occupying the largest share, followed by oil and coal. In June 2020, Hungary passed a law binding itself to a target of net-zero emissions by 2050. As part of a broader restructuring of the nation's energy and climate policies, Hungary also extended its National Energy Strategy 2030 to look even further, adding an outlook until 2040 that prioritises carbon-neutral and cost-effective energy while focusing on reinforcing energy security and energy independence. Key forces in the country's 2050 target include renewables, nuclear electricity, and electrification of end-use sectors. Significant investments in the power sector are expected, including for the construction of two new nuclear energy generating units. Renewable energy capacity has increased significantly, but in recent years growth in the renewables sector has stagnated. What is more, certain policies that limit development of wind power are expected to negatively impact the renewables sector.
  
  Hungary's emission of greenhouse gases has dropped alongside the economy's decreasing use of carbon-based fuels. However, independent analysis has identified space for Hungary to set more ambitious emissions reduction targets.