Sweden Renewable Energy Policy Handbook, 2022 Update
Sweden aims to reduce GHG emissions by 63% by 2030 and by 75% by 2040 compared to 1990 levels. The country also aims to achieve net carbon neutrality by 2045. The Sweden renewable energy policy handbook offers comprehensive information on major policies governing the renewable energy market in the country. The report also discusses renewable energy targets and plans along with the present policy framework, giving a fair idea of the overall growth potential of the renewable energy industry. Moreover, the report provides major technology-specific policies and incentives provided in the country.
What are the market dynamics in Sweden renewable energy market?
Sweden follows European Union’s (EU) directives to promote energy efficiency and develop renewable energy technologies in the country. The Swedish Energy Agency (Energimyndigheten) works on behalf of the Swedish Government in the Ministry of Infrastructures area of responsibility, to carry out the directives laid down by the government. The key program for the development of renewable power projects in the country is the Electricity Certificate Act which was jointly introduced by Sweden and Norway. The Act sets out obligations to companies to purchase green electricity certificates. The sales of these certificates give renewable power producers a supplementary income in addition to sales from electricity. The scheme is technology-neutral, and all forms of renewable electricity production qualify for it. As per the European Union (EU) mandate, the Swedish government ratified the National Energy and Climate Policy (NECP) and submitted its final draft in January 2020.
What are the major policies and incentives in the Sweden renewable energy industry?
Some of the major policies in the renewable energy industry in Sweden are the Climate Act and Climate Policy Framework, National Energy and Climate Plan (NECP), National Recovery and Resilience Plan, Green Certificate Scheme, and Solar Rebate Scheme.
Climate Act and Climate Policy Framework
The Swedish parliament adopted a national Climate Policy Framework in 2017 which includes an Energy Agreement target on net emissions of GHG by 2045. It also includes the 2030 target for the transport sector to reduce GHG emissions.