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Global Visibility for Nordic Innovations

Nordic Innovations in Renewable Energy Help Beat Weakened American Policies

It is surprising that the incoming American president is embarking on “anti-woke” executive proclamations to slow or stop the development of renewables at a time when they are proving to be the cheapest sources of energy that also help save the planet from extreme weather that is already destroying large areas of America and causing severe hardship in many other parts of the world.

Scientific American, the American science magazine has recently published an article in its February 2025 issue. The article states that the expansion of renewable energy is crucial for cutting carbon emissions and is an economic opportunity. The market for renewable energy technologies is projected to rise from $700 billion in 2023 to over $2 trillion by 2035. China currently dominates the markets for solar panels, electric vehicles, and batteries, and the US risks falling behind if it does not support domestic renewable energy industries. The service sector, which accounts for over 70% of the US GDP, is a large consumer of energy and increasingly supports renewable options due to cost effectiveness. A majority of Americans believe the US should prioritise alternative energy sources. Furthermore, many are experiencing extreme weather which increases support for renewables.

What is clear, the Nordics are doing the opposite to our American friends. We are forging ahead with renewable energy research, innovations, and developing energy efficient products and policies – something we have been doing for decades.

The Nordic region – comprising Denmark, Finland, Iceland, Norway, and Sweden – has established itself as a global leader in renewable energy innovations. This success stems from a combination of abundant natural resources, forward-thinking policies, and a collaborative approach between governments, scientific institutions, and private companies.

Nordic countries have leveraged their unique geography to develop robust renewable energy solutions. Iceland, for example, leads in geothermal energy utilisation, while Norway has maximised its hydroelectric power potential, producing nearly all its electricity from hydropower. Denmark is a global pioneer in wind energy, boasting cutting-edge turbine technology and substantial offshore wind farms. Sweden and Finland contribute significantly with advanced biomass energy systems and emerging solar technologies.

The region’s strong global position is also attributed to its culture of innovation and sustainability. Governments have set ambitious climate goals, such as Sweden’s target to achieve net-zero emissions by 2045, fostering investment in research and green technologies. Furthermore, partnerships between universities, research institutes, and companies have accelerated technological breakthroughs.

Large Nordic companies like Vestas, Ørsted, Wärtsilä, Vattenfall, Fortum, Statkraft, etc., are all pulling their weight in the international markets with their expertise in wind energy, green hydrogen, and marine solutions. These companies are accompanied with a huge and expanding number of smaller companies and start-ups from all of three Nordic countries. They are being fed by a large network of scientific bodies in many universities and government owned research institutions with generous budget funding. Many of these scientific bodies are producing prolific numbers of spin-offs in to the private sector.

Photo: Lake Turkana Windfarm – originally a very successful Nordic investment, which was subsequently sold in 2024 to four investors that included one of the world’s largest investment companies owned by BlackRock from the USA!

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