Nordic Renewables

Outlook 2022 - 2050

Spring 2022, 25th edition

Available from February 24th

Close-up of windmill

Key discussions for the Spring 2022 edition

  • A climate neutral Europe by 2050: Emission reduction targets lays the groundwork for investment in the European energy system. Review of the EU’s climate and energy policies and regulations, including the proposed EU taxonomy.

  • EU Carbon market: Though we regard governmental facilitation as a necessary addition on the road to carbon neutrality, the EU ETS system will play an important role. The report discusses the EUA market and derives the necessary CO2 price to achieve the long-term goals.

  • Nordic renewable energy policy: Review of the current policies and probable new political initiatives towards 2050.

  • Cost and technology development: We assess the technology development and future costs of renewables, nuclear power, energy storage and Hydrogen. We present the Long-Run-Marginal-Costs (LRMC) development for the different technologies towards 2050.

  • Potential and investments: The report discusses the potential and expected investments in the Nordic region up until 2050 for hydropower, wind power, solar PV, Bio CHP, nuclear power, energy storage technologies and Hydrogen.

  • Renewables project lists: Comprehensive lists of all large projects under construction or with final investment decision as well as the expected onshore and offshore wind, solar power, large hydropower and bio-CHP to take an investment decision in the Nordics.

  • Hydrogen project lists: An overview of hydrogen projects under development in the Nordic region is provided.

  • Overview of PPAs: Power Purchase Agreements have been influential for the cost of capital for renewables investments. We provide an overview of the PPAs associated with Nordic renewables investments.

  • Planned onshore wind projects in the Nordics: A comprehensive database with a detailed overview of all potential onshore wind projects pending or with approval.

  • The Norwegian-Swedish Electricity Certificate market: The stop-date is reached. We present the expected electricity certificate price development with complete monthly and annual el certificate balance up to 2045 for all technologies.

Report Content

Renewable cost development, potential and expected investments in Norway, Sweden, Finland, and Denmark. The analysis is available as pdf and paper versions, including a spreadsheet with all relevant calculations from the analysis.

The report discusses relevant energy storage technologies to enable the extensive development of renewable energy.

It includes various framework conditions in the Nordic region - addressing the long-term targets for reducing greenhouse gas emissions in the EU. Analysis of the EU ETS with a possible emissions scenario all the way to 2050 and a detailed analysis of the Electricity Certificates market.

The analysis is available as pdf including a spreadsheet with all relevant calculations from the analysis.

Chief analyst Sigbjørn Seland holds presentation


StormGeo offers a workshop where pre-agreed topics related to the Nordic renewables are presented and discussed. For best use of a workshop we recommend to add the most recent “Nordic Power Outlook 2022-2050”. Use this opportunity to enhance your understanding of the market and to challenge us.

Request an offer

Yes, please send me an offer for:


Why not add a long term analysis on Nordic power?

StormGeo launches updated long term report on Nordic Power Outlook until 2050 on February 17th. We highly recommend to include this report as the elcert and power markets are strongly interlinked.