The International Energy Agency (IEA) recently published the report Sweden 2024: Energy Policy Review , highlighting the country’s significant opportunities to position itself as a global leader in the clean energy transition. With an advanced, low-emissions electricity system, combined with abundant natural resources and favorable geology, Sweden is well equipped to drive a green industrial transformation and meet growing electrification demands.
However, the report warns of considerable challenges, such as the need for coordinated planning to double electricity demand by 2045, overcome barriers to clean energy generation and strengthen transmission infrastructure.
Electrification as a driver of industrial transformation
Access to fossil-free electricity positions Sweden as one of the countries best positioned to lead the decarbonization of energy-intensive sectors. A striking example is the focus on low-emission hydrogen as a core element for the production of “green steel.”
The IEA acknowledges the progress made in the Swedish industrial sector, but stresses that a national hydrogen strategy is essential to map responsibilities and integrate the resource into the energy system efficiently. Such an approach would also be crucial to align industrial development with climate goals, ensuring the country’s international competitiveness.
However, the transport sector remains a focus of concern. Despite notable progress in fleet electrification, reduced government incentives and weakened biofuels policy are putting the achievement of emissions targets at risk. The report recommends an urgent review of policies to ensure continued progress in the sector.
Energy efficiency: key to a sustainable future
Sweden, with its high energy intensity, faces specific challenges in sectors such as buildings and infrastructure. Energy efficiency appears to be a critical solution to optimize consumption and mitigate pressure on the electricity grid in the face of the energy transition.
The report also suggests that the Swedish government expand measures to support energy efficiency, especially in the buildings sector, as a way to balance the expected high electricity demand. According to the IEA, actions in this direction will help preserve natural resources, while strengthening the country's strategic position as a leader in clean energy.
Access the report HERE:
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