The transition to renewables is prevalent in many countries, none more than the Baltic States, and the United States is primed to take notes on the areas of success and implement these sustainable energy shifts within our borders.
In places where recent transitions to renewable have been made, success is the standard. These examples can be found from small towns, to large cities, and even entire countries. Sweden, Norway and Denmark are leading the way in recent transition models. Another country that has been under the microscope is Poland, who after running into early speed bumps in their transition, is now well prepared for a full switch by 2050 which falls in line with the rest of Europe's goals.
As countries become further inclined to rapidly transition, early mistakes can be avoided and the lessons learned can lead to a much smoother switch. The United States has recently set forth our goal in line with Europe’s, in reaching net zero emissions by 2050, and aided by large investments also committed to slashing these emissions by 65% come 2030. These recent announcements from the White House are some of the most enlightening in recent history and provide more optimism for those who have or are investing in renewables.
The success stories out of Europe are even more inspiring when considering the decreased levels of sunlight in the Nordic countries where transitions are the most expeditious. Though the sun is a catalyst for unlimited amounts of free energy, Denmark, Norway and Sweden are powering their residents with almost entirely hydropower. Research and development, and implementation both present ample opportunities for investors to profit off the diversity of renewables.
Citations
1.Insight Report 2021, Fostering Effective Energy Transition 2021 edition https://www3.weforum.org/docs/WEF_Fostering_Effective_Energy_Transition_2021.pdf
2. Norway Government, 2016, https://www.regjeringen.no/en/topics/energy/renewable-energy/renewable-energy-production-in-norway/id2343462/
3. Pietrzak, et al, Energy Transition in Poland—Assessment of the Renewable Energy Sector, 2021, https://doi.org/10.3390/en14082046
4. Raghutla, et al, Financing clean energy projects: New empirical evidence from major investment countries, 2021, https://doi.org/10.1016/j.renene.2021.01.019
5. Sean Fleming, World Economic Forum, 2021