Sweden’s wind power investments are slowing down, as there were no new orders for wind turbines in the second quarter, Swedish Radio News reports.
This is the first time this has happened since 2012, when wind power trade organization Svensk Vindenergi started tracking the developments of the sector in Sweden.
Last year, the installation of wind turbines peaked according to Svensk Vinderengi. The first quarter of 2015 followed the same trend, but then it stopped in April, May and June.
Power prices and the subsidies for renewable power producers are currently record low.
Frank Krönert, power market expert at Sweco, a consultancy group, is not surprised investments are decreasing.
“It was foreseeable that the market eventually would react to the situation, with low prices and subsidies, and the outlook for these two aren’t great,” he says.
Related stories from around the North:
Canada: Floating nuclear power stations for Arctic?, Radio Canada International
Finland: Finns still sharply divided over wind power, Yle News
Greenland: Arctic oil and gas must stay in ground to restrict warming to 2°C says study, Blog by Mia Bennett
Iceland: From Arctic Circle 2013-2014, a big drop in the price of oil, Blog by Mia Bennett
Norway: Norway surpasses Russia as top gas supplier, Barents Observer
Russia: Statoil and Rosneft prepare for drilling despite sanctions, Barents Observer
United States: Let locals decide fate of Arctic drilling says U.S. politician, Alaska Dispatch News