Sweden on track to produce all its energy from renewable resources by 2040
Anne Nilsson, Director General of the Swedish Energy Markets Inspectorate claimed that Sweden was on track to produce all its energy from renewable resources by 2040.
|At present, production from renewable sources such as wind and hydro accounted for 57 percent of Sweden's production of 159 terawatt-hours (TWh). Much of the rest comes from nuclear power stations. In 2013 alone, renewable energy investment in Sweden was estimated at more than US $1 billion.|
"Nuclear is quite an expensive energy source due to safety regulations and funding for long-term nuclear waste management among other things. Renewables, meaning large-scale wind in Sweden, on the other hand, are cheaper and cheaper to commission and to run. This together with low wholesale prices will make it less likely that new nuclear power plants will replace the remaining ones when they are phased out due to old age."