DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/c3rv2d/nordic_renewables) has announced the addition of the "Nordic Renewables Report Q1 2013" report to their offering.
The Nordic Renewables Report provides industry professionals and strategists, corporate analysts, oil and gas associations, government departments and regulatory bodies with independent forecasts and competitive intelligence.
BMI View:
Our near-term outlook for the renewables industry in the Nordics is relatively bullish, as we expect economic performance in 2013 to come in stronger than in 2012. Over the next decade, Denmark will remain the leader in renewable energy among the Nordic countries, owing to the country's considerable progress towards achieving its target of 100% renewable energy by 2050. We expect renewables to grow at a slower pace in Sweden and Finland, due to a continued reliance on nuclear energy. That said, we predict that the wind and biomass sectors will experience growth in all three countries, though growth rates will diverge due to differences in natural resource endowments.
We forecast non-hydropower renewable energy generation to grow 7.2% in Denmark in 2013, up from an estimated growth of 6.7% from the previous year. Our increasingly bullish outlook for 2013 is because we expect Denmark to experience an economic recovery in the coming years. We also expect the outlook for the renewables sectors in Finland and Sweden to improve in 2013, and are forecasting 2.7% and 3.2% growth respectively, up from 0.7% and 1.0% in 2012.
Beyond 2013, we expect Denmark to remain the leader in non-hydropower renewables among the Nordic countries. This is due toto the country's considerable progress in achieving its target of 100% renewable energy by 2050. That said, we have revised down our long-term growth forecast for Denmark to average 6.5% per annum between 2012 and 2021 (previously 6.7%). This is in line with our expectations for Denmark's economic growth to weaken over the medium-term. Our long-term forecasts for Sweden and Finland however remain relatively unchanged at 2.0% and 2.5% respectively.
Key Trends And Regulatory Changes:
- Denmark introduced a new ruling on noise produced by wind turbines on January 01 2012,
limiting low frequency noise produced by wind turbines to 20 decibels. Existing turbines will have to adhere to this new regulation as well.
- Denmark increased its renewable energy target from 30% by 2020, to 100% by 2050 in March 2012.
- Sweden expanded its green electricity certificate system (GEC) into Norway. Certificates issued in Norway can now be used to fulfil quota obligations for companies operating under Swedish law, and vice versa.
- Finland's new government has not taken any action to prevent the construction of new nuclear power plants approved by the previous government.
- The 200 megawatt offshore wind Jädraås project began construction earlier this year after receiving financing in late 2011.
For more information visit http://www.researchandmarkets.com/research/c3rv2d/nordic_renewables