Copenhagen Economics has conducted a study on efficient strategies for supporting renewable energy in the Nordic countries for the Nordic Council of Ministers.

This study reviews how Nordic countries individually, collectively and as part of the larger international community can develop a strategy for renewable energy that efficiently meets the two policy objectives of climate change and energy security challenges respectively

The main conclusions are:

• Expanding renewable energy is not an end in itself, but a tool to deliver on the two real policy targets: climate change and energy security.
• Too much policy focus at the Nordic and EU level is dedicated to boost renewable energy share of energy production in the near term, and insufficient resources are allocated to develop future low carbon technologies, which are required when CO2 abatement targets become more ambitious.
• The long term nature of the challenges and huge investments in low carbon technologies required to deliver on long term targets puts a very high premium on policies that reduces policy risks as perceived by investors.

The full report can be downloaded from the Nordic Council og Ministers’ website here

For further information please contact Sigurd Næss-Schmidt