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.

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World Future Energy Summit 2027 (WFES 2027)

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.