2012-10-22 02:35:51 - Nordic Renewables Report Q4 2012 - a new market research report on companiesandmarkets.com

Denmark will remain the leader in renewable energy among the Nordic countries over the next decade, owing to the country´s considerable progress in achieving its target of 100% renewable energy by 2050. We expect renewable energy to grow at a slower pace in Sweden and Finland, due to a continued reliance on nuclear energy. That said, we predict that the wind and biomass sectors will experience growth in all three countries, though growth rates will diverge due to differences in natural resource endowments.

We forecast non-hydropower renewable energy generation to grow 6.7% in Denmark in 2012, accounting for 36% of total electricity generated in the country. The majority of growth will come from wind and biomass energy generation, as supportive policies

 

 

remain in place. We forecast lower growth rates of 1.3% and 1% for non-hydropower renewables in Finland and Sweden respectively, as government policies in these countries remain less attractive than in Denmark.

Between 2012 and 2021, we forecast non-hydropower renewable energy generation to grow an average of 6.7% per annum in Denmark, 1.9% in Sweden, and 2.3% in Finland. We attribute the divergence in growth trends to the continued reliance on nuclear power in Finland and Sweden, and differences in natural resource endowments. Differing levels of government support are yet another reason for the divergence in growth figures, and Denmark is a clear outperformer as it pursues its target of 100% renewable energy by 2050.

Here are the key trends and regulatory changes in the industry:

• Denmark introduced a new ruling on noise produced by wind turbines on January 01 2012, limiting low frequency noise produced by wind turbines to 20 decibels. Existing turbines will have to adhere to this new regulation as well.

• Denmark increased its renewable energy target from 30% by 2020, to 100% by 2050 in March 2012.

• Sweden expanded its green electricity certificate system (GEC) into Norway. Certificates issued in Norway can now be used to fulfil quota obligations for companies operating under Swedish law, and vice versa.

• Finland´s new government has not taken any action to prevent the construction of new nuclear power plants approved by the previous government.

• The 200 megawatt offshore wind Jädraås project began construction earlier this year after receiving financing in late 2011.

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