Nuclear and hydro will remain key to Sweden's energy future

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22 December 2014, Nuclear, Solar, Wind

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Since 2010, Sweden's conventional thermal energy production has declined on an annual basis as it continues to focus on its big three energy sources. In 2010, 3.6TWh of electricity was generated from natural gas, but this was down to 0.8TWh in 2014. From 2013 to 2030 electricity production from natural gas will record a compound annual growth rate of -5.1%. Energy production from coal will be a similar story, with only 0.6TWh produced by 2030.

Although Sweden is heavily reliant on nuclear and hydro power, the country is also pursuing bioenergy and wind power technologies. Wind power production is forecast to increase from 12TWh in 2014 to 24.4TWh by 2030. Energy output from bioenergy is not expected to grow as quickly as wind but it will still rise from 9.5TWh in 2014 to 14.3TWH by 2030.

Sweden's energy production portfolio will enable it to remain a net energy exporter, and over the next 15 years almost 285TWh of energy will be sold to its neighbors. Only Norway will export more energy than Sweden, and that is primarily due to the country's prolific hydro power production. Nonetheless, hydro power generation can be unreliable as it depends heavily on rainfall, and between 2012 and 2013 energy exports dropped from 19.6TWh to 10TWh due to low rainfall in Sweden. The example of Norway - which suffered such low rainfall in 2010 that it was forced to import energy - highlights the risk of relying on hydro. However, Sweden's efforts to diversify should ensure its energy future. / / @DatamonitorEN

Source: MarketLine

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