Sweden enacts measures amid target of fossil-free energy mix mix

• 9 years ago (2015-09-17)

Europe 1132 Renewables 804

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Support will be increased for solar, wind, energy storage, smart grids and clean transport. Photovoltaic investment will shoot up eightfold to kr390 million ($47 million) per year between 2017 and 2019, the government said on Wednesday. Sweden will also spend kr50 million ($7.6 million) annually on electricity storage research, kr10 million ($1.5 million) on smart grids and kr1 billion ($112 million) in renovating residential buildings to make them more energy efficient. The government also plans to invest in clean transportation, such as electric buses.

Sweden also announced that it will increase its funding of climate-related projects in developing countries to kr500 million ($75 million), in the hope that this will send an “important signal” before the Paris United Nations conference in December.