Climate Services for Renewable Energy in the Nordic Electricity Market

Kirsten Halsnæs, Lisa Bay, Per Skougaard Kaspersen, Martin Drews, Morten Andreas Dahl Larsen*

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

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Abstract

To limit global warming to less than 2 °C requires a low-carbon transition with very large shares of renewables. Options such as wind, solar and hydro are influenced by both short and longer-term weather and climate variability. While still subject to natural and anthropogenic climate forcing and fluctuating energy prices, water reservoirs can dually operate as storage and production facilities and serve to balance the more volatile production capacity from solar and wind. This paper assesses the dynamics and demands of the hydro-dominated Nordic electricity system and market and identifies untapped potential for climate services based on a combination of literature-based research, documented stakeholder needs and data sources on historical and future conditions. A critical need for both improving the appropriateness and reliability of existing climate services and for developing new tailored solutions for a broader group of stakeholders from the renewable energy sector in the Nordics is observed. The quantification of uncertainties related to short-term weather forecasts and longer-term climate predictions is also found to be important for minimizing the financial risk in relation to systems management and to overall investments in renewable energy.
Original languageEnglish
JournalClimate
Volume9
Issue number3
Pages (from-to)46
Number of pages1
ISSN2225-1154
DOIs
Publication statusPublished - 2021

Keywords

  • Climate services
  • Renewable energy
  • Nordic and Baltic countries
  • Hydropower
  • Wind power
  • Solar PV
  • Energy systems
  • Electricity markets
  • Energy trade
  • Hydro reservoirs

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