A Least-cost Capacity Mix to Satisfy Growing Electricity Demand without Carbon Emissions in Sweden: Base Case 2050 and Sensitivity Scenarios

Sweden faces the largest transformation of its energy system in modern history as it aims for net zero energy emissions and increased energy security, while electrification is expected to double electricity consumption by 2050. An NEA system cost analysis, which was undertaken in collaboration with the Swedish Energy Agency applying the latest iteration of a power system model developed by the NEA, finds that combining the complementary strengths of nuclear power and onshore wind power provides a robust least-cost solution to this challenge. Yet time is of the essence. While the Swedish government has created appropriate framework conditions, industry will now need to move quickly to construct the new nuclear capacity required to realise Sweden’s ambitious objectives by 2050.