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Sweden Looks Set to Run Entirely on Green Energy by 2040

08 Nov 16:00 by Steve Walia

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While the UK's government dithers over its support for renewable energy, Sweden is the latest country forging ahead in the race to build a truly sustainable economy and secure energy security of supply. The latest figures show that the country will hit its target of running entirely on clean and green renewable energy sources by 2040.

Only last year, Sweden was producing an impressive 57pc of its total power needs from renewable energy sources - primarily from wind and hydropower and with the remaining 43pc coming from nuclear energy.

The country is now investing heavily in its vast potential for onshore wind in order to become completely free from fossil fuels by 2040 - a goal set last year by the Swedish Prime Minister at the UN General Assembly.

Sweden has already been growing its wind power output steadily, increasingly gaining from economies of scale and moving towards this as a primary source of energy which will allow nuclear power to be phased out of its system. It is well placed for onshore wind in terms of geography, a relatively sparse population, topography and government support.

Nuclear energy has been a relatively expensive source of power for Sweden, primarily due to the strict safety regulations and the long-term costs associated with disposal and management of nuclear projects.

Onshore wind, however, is cheap to both commission and maintain. This, when combined with the low wholesale prices available, means that old nuclear power stations will be decommissioned when they reach their maximum working age and will not be replaced.

Environmental campaigners will no doubt hope that Sweden's success will act as a catalyst for the British government to clarify its current position on green energy investment and support in the UK.