Renewable energy - countries leading the way

27 Feb

Author: Lau Hiu Naam

Renewable energy is an essential component of the global effort to mitigate climate change. The burning of fossil fuels, such as coal and oil, is the main contributor to the accumulation of greenhouse gases in the atmosphere, which leads to climate change. Renewable energy sources, such as solar, wind, hydro, geothermal, and bioenergy, offer a clean and sustainable alternative to fossil fuels. By replacing fossil fuels with renewable energy sources, we can reduce greenhouse gas emissions, improve air quality, and mitigate the impacts of climate change. As well as having a positive effect on the environment, renewable energy also creates jobs, stimulates economic growth, and increases energy security. So let’s look at the countries leading the way in renewable energy.

Renewable energy is a big-ticket item in the fight against climate change. Renewables, as the name suggests, means energy generated from sources that are not depleted, such as wind and solar. Said another way, energy that is created without using fossil fuels, such as oil or coal.

Note: For the purposes of this article, we're not considering nuclear energy as renewable energy. However, we'll mention it as a low-carbon source.

With renewables becoming cheaper and more readily accessible, it is indeed an interesting time to watch the journey of green energy.

In this post, we’ll share three countries that are leading the way in renewable energy. We used three different ranking systems to come up with our lists: the Energy Transition Index, the share of renewables in electricity production, and the absolute number of renewable energy produced. Let's take a closer look at the top countries in each of these lists to understand how they got there.

Sweden

Sweden takes the top spot on the Energy Transition Index (ETI). The ETI score is divided into two parts: the System Performance Score, and the Transition Readiness Score. The former rates the country's current energy system based on Security & Access, Environmental Sustainability, and Economic Development & Growth, while the latter rates how well prepared the country is for positive changes in the energy sector.

Sweden is a fascinating case. The country has a long history with nuclear power and hydropower, which have been the main sources of energy generation since the 1980s. In 2019, each of these two sources contributed 39% towards the total electricity generation. However, due to the increasing costs of maintaining nuclear power plants (the equipment is getting old, and more safety measures are needed after Fukushima), Sweden has been heavily investing in wind power and biofuels.

Did you know that Sweden has the highest carbon tax worldwide at 137 U.S. dollars per metric ton of CO2 equivalent? That's a heavy tax that encourages electrical companies to use renewables or at least low-carbon sources of energy. Despite the heavy tax, the prices of energy remain relatively cheap.

By adding a set of innovative, localized ideas, Sweden has created an energy system that is diversified, efficient, and, most importantly, clean. The government's ambitious goals are backed with sound and holistic solutions that place them rightfully at the top of the ETI ranking.

Norway

Norway tops the list when it comes to the share of renewables in electricity production, with a staggering 98.4%. That's more than 10% ahead of Brazil in second place. How did they get so close to a fully clean energy system?

Norway's energy generation is mainly from hydropower. This amazing feat can be linked back to the country's 1681 hydropower plants that generate 90% of the power in Norway. The country is also investing in wind power due to its abundant wind resources.

Denmark

Denmark is another country that's doing well in the renewable energy space. Despite having only 1% of Europe's population, Denmark produces 20% of the total hydropower in Europe. The country is surrounded by large reservoirs that ensure a continuous supply of energy for the population.

However, Denmark still has a long way to go. Their main exports are still fossil fuels, and they import energy from fossil fuel sources to meet a percentage of their energy demand from transportation. But they've been setting targets to increase the use of electric vehicles, and currently, 65% of cars sold are electric!

China

China tops the charts for the largest amount of renewable energy generated. When looking at absolute numbers, countries with the largest populations tend to lead. However, China is also one of the countries with the most aggressive renewable energy targets.

What’s next?

In conclusion, these countries are shining examples of what can be achieved with a strong focus on renewable energy. They've set ambitious targets and are implementing innovative solutions to achieve them. Hopefully, other countries will follow their lead and we'll see a world powered by clean, renewable energy!

Over to you! What were your thoughts? Were there any surprises here? Which countries did you expect would the leaders in renewable energy? Share your thoughts in the comments below.