November 26, 2021

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The renewable energy industry increases sales by 15 percent - E24

The renewable energy industry increases sales by 15 percent – E24

Wind energy is growing, while hydropower is shrinking. This is how an overview of Norway’s renewable energy industry looks, measured in terms of income and employment.

The development of the Hywind Tampen has helped offshore wind become the second largest sector of the renewable energy industry in Norway in 2020.

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How did things go with the Norwegian renewable energy industry in 2020?

Multiconsult mapped this on behalf of the Ministry of Petroleum and Energy, the Norwegian Partners Energy and Norwegian Export Finance. In the report, they addressed hydro, wind, solar, and bioenergy.

The second largest offshore wind

In these industries, there were a total of 15,786 workers in 2020, up from 14,447 from the previous year, and an increase of nine percent.

For the first time, offshore wind is the second largest sector, both in terms of employment and turnover. 3,500 working years and 13.9 billion NOK are the amounts applied here. Offshore wind is also one of Norway’s renewable sectors with the most revenue from abroad, with export sales of NOK 7.6 billion.

In 2020, construction of Equinor Hywind Tampen’s Norwegian offshore wind power project will begin. This will be Norway’s first commercial offshore wind power facility. In addition, the Sørlige Nordsjø II and Utsira Nord area have been opened for development, but it is not yet clear who will develop wind power here.

Globally, 6.1 gigawatts of offshore wind capacity was installed in 2020.

Hydropower accounts for the largest employment in Norway, at 45 percent of the total. But both turnover and employment in this sector are down six percent from 2019.

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Wind energy on Earth is the largest in krona

In 2020, the Norway-based renewable energy industry exceeded NOK 50 billion in total turnover for the first time, with NOK 51.9 billion. This was a 15 percent increase from 2019.

When Multiconsult considers turnover, it anticipates, among other things, equipment delivery, development and consulting. But the figures do not include actual production and energy sales.

The wind energy on Earth was the largest in its rotation rate. Total NOK 17.3 billion, and NOK 14.4 billion nationally. This is a text on 2164 men years. The majority of these work with development.

Onshore wind energy experienced strong growth in 2020 and increased total sales by 21 percent. The increase was driven by the national sales volume.

In 2020, 1.8 gigawatts of new energy was installed in 15 projects in Norway, an annual European record. One of the reasons why so much was developed was that one had to have seen new wind energy projects in operation before the end of 2021 in order to be able to obtain electricity certification.

Listen to podcasts about the renewable energy industry:

Exports are less than the national turnover

The national sales volume of the renewable energy industry is greater than what it brings in from exports. Exports accounted for NOK 12.3 billion in turnover, while sales of foreign affiliates amounted to NOK 9.3 billion.

But export earnings increased by 24 percent compared to 2019. The increase is attributed to wind power.

The report from Multiconsult was presented on Monday, along with a report from Rystad Energy that looked at the Norwegian oil suppliers market. In 2020, the income of these companies was 109 billion NOK from the international market.

For the Norwegian solar industry, international sales are larger than national sales. Solar has an overall growth of 10 percent, with a total turnover of NOK 6.9 billion.

Globally, it is estimated that around 140 gigawatts of solar capacity will be installed in 2020, a 22 percent increase from the previous year.

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