Nordic Renewables Outlook

StormGeo Nena
Nena Analysis

Fall 2021, 24th edition (2022 – 2050). Renewable investment potentials and expected renewable development in Norway, Sweden, Finland and Denmark, in addition to the usual analysis of the Electricity Certificates market.

"Major emission reductions will take place through massive development of wind and solar power that allows extensive electrification. It is increasingly likely that hydrogen will be the main substitute to fossil fuels for those parts of the economy that are not suitable for direct electrification." - Simen Bomnes Valåmo, Analyst

Available 27th October 2021

Key insights

What does the outlook offer?

Renewable cost development, potential and expected investments in Norway, Sweden, Finland, and Denmark.

Does it discuss energy storage technologies?

The report discusses relevant energy storage technologies to enable the extensive development of renewable energy.

Will it also include framework conditions in the Nordic region?

It includes various framework conditions in the Nordic region - addressing the long-term targets for reducing greenhouse gas emissions in the EU.

Details and Specifications

Key discussions for the Fall 2021 Nordic Renewables Outlook

Elcert Longterm 2021 october 2

Renewable policy in the Nordic region:

Review of the current policies and probable new political initiatives towards 2050.

Accelerating the EU emission reductions:

The EU Commission has presented its proposal for a revision of large parts of the EU's climate and energy regulations, the “Fit for 55” package, in order to align current laws with the 2030 and 2050 ambitions. The report discusses the EUA market and derives the necessary CO2 price to achieve the long-term goals.

Renewables - cost and technology development:

Assessment of the technology development and future costs of renewables, energy storage and Hydrogen. We present LRMCs towards 2050 for onshore and offshore wind power, rooftop and utility scale solar power, energy storage and hydrogen.

Renewables – potential and investments:

We discuss the investment potential and expected renewables growth towards 2050. We provide a merit order overview of Nordic renewable investments from 2020 to 2030.


We discuss the potential for hydrogen in the Nordic power market. An overview of hydrogen projects under development in the Nordic region is provided.

Renewables project lists:

Comprehensive lists of all large projects under construction or with final investment decision as well as the expected onshore and offshore wind, solar power, large hydropower and bio-CHP to take an investment decision in the Nordics.

Power Purchase Agreements:

Overview of PPAs associated with Nordic renewable investments.

Onshore wind projects pending or with approval:

A comprehensive database with a detailed overview of more than 100 TWh potential onshore wind projects pending or with approval.

Electricity certificate price development:

Expected electricity certificate price development with complete monthly and annual el certificate balance up to 2050 for all technologies, according to phase-out and accumulate balance development.

Available 27th October 2021.

Speak to one of the StormGeo Nena team today and discover how our power market analyses can help you. The report is available 27th October 2021.

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Nena Analysis

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