Nordic Renewables outlook v2.2

Fall 2020 Nordic Renewables Outlook

2021 - 2045

Fall 2020, 22nd edition: The new Nordic Renewable Outlook includes renewable investment potentials and expected renewable development in Norway, Sweden, Finland and Denmark

Contact us for more information and schedule a call with StormGeo's Nena Analysis representative. The report is available from October 28, 2020

 

 

Nordic Renewable Investments from 2020 - 2045

Renewable investments potentials and expected renewable development in Norway, Sweden, Finland and Denmark, in addition to the usual analysis of the Electricity Certificates market.

Extensive Development of Renewables

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

The Nordic Framework Conditions

Various framework conditions in the Nordic region addressing the long-term targets for reducing greenhouse gas emissions in the EU

Report package

The analysis is available as pdf and paper versions, including a spreadsheet with all relevant calculations from the analysis.

Nordics Renewables Fall 2020 v3.2

Key discussions for the Fall 2020 edition

  • Comprehensive database with a detailed overview of more than 100 TWh potential onshore wind projects pending or with approval.
  • Overview of large projects under construction as well as the expected onshore wind, large hydro, bio and offshore wind power projects to take investment decision.
  • Merit order overview of Nordic renewable investments from 2020 to 2030.
  • Overview of PPAs associated with Nordic renewable investments.
  • Expected electricity certificate price development: weather risk, technological, financial and political risk.
  • Complete monthly and annual el certificate balance up to 2045 for all technologies, with according phase-out and accumulate balance development.
Contact us for more information and schedule a call with StormGeo's Nena Analysis representative. The report is available from October 28, 2020

Details and Specifications

  • We are amid extensive renewables expansion in the Nordic region that will continue throughout the period. Electrification as a consequence of decarbonization gives increased electricity consumption that will trigger continuous investments in renewables. We assess the potential and cost development for renewables and provide an overview of all renewables projects under development in the Nordic region, both wind power, solar, hydro and bio CHP.
  • The rapidly declining costs of solar power make utility- scale solar power significantly profitable towards strong and sustained growth in investments over the next decades. What is the potential and will the Nordic region be dominated by rooftop or utility scale solar?
  • During the next few years, record volumes of onshore wind power will be connected to the Nordic grid. What is the total potential and will the NIMBY effect slow down further investments? We assess the onshore wind power potential in Norway, Sweden, Finland, Denmark and the Baltics and provide an overview with specific valuation details on all known onshore wind power projects under development.
  • With a growing resistance towards onshore wind power, offshore wind has gained more political attention. We assess costs and potential for both bottom-fixed and floating offshore wind power until 2045 for the Nordic region.
  • We assess the potential and costs of energy storage and present LRMC expectations for different energy storage technologies, including chemical batteries and power-to-gas systems.
  • Power-to-gas systems using hydrogen as an energy carrier is among the most promising solutions for long-term energy storage. We discuss the potential and cost development for hydrogen production, both green hydrogen via electrolysis of water and blue hydrogen produced from natural gas with carbon capture and storage (CCS).
  • The elcertificate goal of 46.4 TWh new renewable production from 2012 to 2030 has already been reached by a wide margin. The Swedish government has proposed a bill to end the elcert scheme in 2035, in line with the stop date in Norway. The bill should be formally put to parliament during this autumn.
  • Regardless of the stop rule in Sweden, we find no credible alternative to very low elcertificate prices given the recent development in the elcertificates balance.

The analysis is available as pdf and paper versions, including a spreadsheet with all relevant calculations from the analysis.