get only rows with max group value
First answer uses a CTE to select max(group_value) and then join with the table.

with maxgv as 
(
    select element, max(group_value) maxg
    from x
    group by element
)
select x.element, x.group_value, x.value
from   maxgv
inner join x
on         x.element = maxgv.element
and        x.group_value = maxgv.maxg
;


This one uses RANK() function:

with grp as 
 (
     select element, group_value, value,
            rank() over (partition by element order by element, group_value desc) rn
     from x
)
select element, group_value, value
from   grp
where  rn = 1;


Both returns the same result:


| element | group_value | value |
|---------|-------------|-------|
| a       | 2           | 1500  |
| a       | 2           | 2500  |
| b       | 1           | 1000  |



Rextester here


But, just to check and compare performance, we need the table schema. I don't know which index is using your current query.