Green Energy In The Nordic Region: Renewable Sources, Capacity Growth And Future Outlook

Renewable energy in Nordic region constitutes 25.8% (384

,131GWh) of the total energy production with Norway contributing the most. While Finland has considerable energy generation from renewables corresponding to 109,102GWh, Denmark produces least amount of renewable energy representing 33,783GWh in the Nordic region. All Nordic countries have set their individual RES target higher than that of EUs target of 20% RES in overall energy mix by 2020. Denmark has set a target to achieve 30% of energy from renewables by 2020, while Finland set that target at 38% and Sweden at 49%. The EU directive has not defined a target for Norway and Iceland, but the countries intend to become carbon-neutral by 2050.

This report documents the growth of the Nordic renewable energy market, showing its current status and potential.

This document gathers the statistical data on the different types of energy generation, combines and contrasts them against each other to show the clear leaders, drivers to change and future growth.

Key features of this report

Overview of the Nordic electricity market with focus on renewable energy. Analysis of energy type volumes, capacity installed, and generation output in Nordic region.

Growth of renewables installed capacity and generation, government mandates and incentives.

Information and analysis by renewable energy sector wind, biomass, hydro, solar, geothermal, and biofuels.

Installed capacity and generation, key players, drivers, resistors, and outlook for each renewable energy sector.

Outlook for all Nordic countries primary energy supply with forecasts up to 2020.

Scope of this report

Achieve a quick and comprehensive understanding of how Nordic market trends and legislation are influencing the development of the renewable energy market.

Assess the emerging trends in renewable energy technology wind, biomass, hydropower, solar, geothermal, and biofuels - capacity and generation.

Quantify value and volume growth potential in Nordic electricity market and in energy generation technology type.

Understand the major issues affecting the Nordic electricity industry in general and renewable electricity in particular.

Predict the key growth areas in the Nordic renewable energy industry.

Key Market Issues

EU Emission Reduction Targets: Historically, the EUs emission reduction targets are the primary drivers for implementation of policies that encouraged usage of renewable energy in the EU member states. The EUs directive on reducing GHG emissions through increased usage of renewable energy is expected to be met at individual country-level through their own policies.

Renewable Energy Incentives and Mandates: In order to meet the emission reduction target laid out in the EU directive, Nordic countries have adopted their own strategies above the EU target of 20% RES in overall energy mix by 2020.

Energy Security: All Nordic countries are slowly reducing their dependence on imported fossil fuels (specifically Denmark ) and promoting domestically-produced renewable energy.

Energy Efficiency: Every Nordic country has national goal to increase energy efficiency, reduce energy demand and promote green energy.

Key findings from this report

1. The Nordic region comprising of Denmark, Finland, Iceland, Norway and Sweden is rich in renewable energy sources due to its favorable geography. Renewable energy in the Nordic region constitutes 25.8% (384,131GWh) to the total energy mix.

2. Government support through incentives such as favorable feed-in tariffs and subsidies will drive the growth of wind power in the Nordic region. Denmark is the leading wind power producer with an installed capacity of 3,163MW constituting 66.1% of the total Nordic regions wind capacity, however it grew at a CAGR of 0.4% during 200408.

3. Solar power in Nordic regions is at a nascent stage of development with only 25MW of solar PV installed capacity compared to an installed capacity of 9,533MW in the EU.

4. Biopower in the Nordic region is predominantly used as a source of heating followed by its usage in generation of electricity and transportation. Sweden is the leading producer of electricity and heat from biopower in the Nordic region and also leads in production of biofuels used for transportation.

Key questions answered

1. What are the drivers shaping and influencing new capacity installed in the Nordic energy industry?

2. What is the potential of renewable energy technologies in the Nordic region? What are the opportunities?

3. What is the policy framework governing the renewable energy market?

4. Which renewable energy technology types are likely to grow?

5. What is the potential of various renewable energy technologies?

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