WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 179
MARKET
DATA
Sweden has a national energy policy target of 100% fossil-free electricity generation by 2040; the installed capacity of wind power is likely to grow by 14 GW and Solar power to grow by
just under 8 GW between 2020 and 2030
The main regulator for the energy industry in Sweden is the Swedish Energy
Agency
GHG Emissions (million tons of CO₂ equivalents)
The agency has submitted a proposal for strategic priorities in energy research
and innovation for 2025-2028
1% 2%
2023 Electricity Mix
50
42.5
40
Seven Swedish cities have signed a joint declaration on climate neutrality with
cities in Spain and Romania
7%
39.1
Nuclear
Hydro
37.1
29%
30
21%
Wind
Biofuel
Solar
Fossil Fuels
20
10
New Generation Capacity (Hydropower in GW)
0
2021
2022
40%
2023
Source : Low-carbon Power
26.4
30
20
Source: Statistical Review of World Energy 2024
16.4
New Generation development (Wind in GW)
10
0
40
2023
2023 Electricity consumption by sector
8%
31.7
2030
30
20
16.3
Industry
35%
25%
Household
10
• Recently, Swedish government announced their plans to invest over SEK
1Bn ($97 Mn) in 2025 to expand fossil-free electricity production including
plans for an investment of more than $9 Mn in pilot and demonstration
nuclear power projects.
• In Nov 2023, Sweden announced a plan for long-term nuclear energy
investment to double electricity production in 25 years.
Sources:
Electricity mix
https://lowcarbonpower.org/region/Sweden
PPA deals:
2024 Report: https://img.saurenergy.com/2024/01/european_ppa_market_outlook_2024_v7_high_res.pdf
2023 Report: : https://go.pexapark.com/l/891233/2023-02-08/cjj25/891233/1675852816rjodUGY4/European_PPA_Market_Outlook_2023_V9.pdf
https://group.vattenfall.com/press-and-media/pressreleases/2024/vattenfall-and-borealis-sign-their-first-long-term-hydropower-ppa-in-Sweden
https://www.wind-watch.org/news/2024/01/19/swedish-wind-farm-ppa-terminated/
Electricity consumption by sector:
https://www.enerdata.net/estore/energy-market/sweden/
Carbon Tax:
https://taxfoundation.org/data/all/eu/carbon-taxes-europe-2024/
https://www.reuters.com/sustainability/european-commission-approves-swedish-carbon-capture-aid-plan-2024-07-02/
https://carbonpricingdashboard.worldbank.org/compliance/price
Other sources:
https://www.energimyndigheten.se/en/innovations-r--d/Our-strategic-priorities-in-energy-research-and-innovation/
https://www.loc.gov/item/global-legal-monitor/2024-01-29/sweden-new-rules-for-nuclear-power-plant-reactors-take-effect/
https://www.weforum.org/agenda/2024/01/renewable-energy-transition-generation-eu/
https://www.globaldata.com/store/report/sweden-renewable-energy-government-regulation-policy-analysis/
https://www.nucnet.org/news/gov-t-announces-major-investments-as-plans-for-new-nuclear-gather-pace-9-4-2024
https://via.tt.se/pressmeddelande/3608545/eon-lanserar-ny-plan-for-elnatets-framtid?publisherId=1035173
https://www.reuters.com/business/energy/vattenfall-swedish-industry-majors-join-forces-new-energy-investment-2024-08-20/
https://commission.europa.eu/publications/sweden-final-updated-necp-2021-2030-submitted-2024_en
Services
0
2023
Others
2030
32%
Wind
Sources: Enerdata
Source: IRENA 2024
• Vattenfall and Swedish industry majors join forces on new energy
investment. Sweden is planning for up to 12 new nuclear reactors
by 2045, which could cost around SEK 400 Bn ($39 billion) to
build, with the government offering to share some of investment
risks.
20
• E.ON presented its first network development plan, to guide the
development of the electricity network during 2025–2034.
A further minimum of SEK 23 Bn is to be invested until 2027.
10
2023: Total PPA Deals
CO2 pricing ($/tCO2e)
200
16
15
12
7
150
127.3
100
5
50
0
0.0
0.0
2022
2023
0
2021
Source: Pexapark
2022
2023
Source: Worldbank
WEMO 2024
Hydropower
Source : IRENA 2024
2024
179
Sweden
PREVIOUS
ARTICLE
HOME
Country Card
