Sweden, the leader in the share of renewable energy use in the European Union (EU), targets to eliminate subsidies for onshore wind farms by the top of 2021, at around the same time as neighboring Noreg, Sweden’s Energy Minister Anders Ygeman told Reuters on Wed.
Onshore wind developments are already profitable while not subsidies, the minister aforementioned on the sidelines of an alternative energy conference in the national capital.
Declining technology prices and battery costs across the board have created unsubsidized onshore wind and solar energy the most cost-effective choices for electricity generation in major economies, together with India’s and China’s solar and alternative energy are currently cheaper than coal in most components of the planet.
Sweden generates over 54 % of its electricity from renewable sources on a property basis. As early as 2012, the Scandinavian country reached its 2020 target to possess 50 % of energy use from renewables. The country is targeting 100 percent renewable electricity generation by 2040.
Hydropower and bioenergy are the highest sources of renewable energy in the Scandinavian nation, however, alternative energy has soared over the past decade and a half. Between 2000 and 2017, Sweden’s alternative energy generation increased from 0.5 terawatt-hours (TWh) to 17.5 TWh.
Tags : Hydropower, Subsidies ,