Denmark 2019 Denmark 2019 | Page 9

D enmark is recognised around the world for being a pioneer for renewable energy, its stance in the fight against climate change and for successful policies on creating green growth. Denmark, in particular, enjoys recognition for its success in continuously transforming its society in a sustainable way with a long-term perspective to become a green society through competitive industries and ambitious policies such as becoming the world’s first fossil fuel free country by 2050. Also internationally, Denmark is a frontrunner for initiatives and collaborative endeavours, which has resulted in remarkable Danish rankings and figures related to renewable energy: unchanged, and water consumption has decreased by 40%. These achievements have given the country an important voice in the international energy arena. • • • • • The world’s best energy system in 2018, according to the International Energy Agency, for the third consecutive year in a row. The world’s largest share of renewable energy in its production of electricity without compromising the security of supply. 53% of electricity consumption in 2017 generated by renewable energy. 43.6% of electricity in 2017 generated from wind power with a target of 50% by 2025. The International Energy Agency, which is the global energy authority, has highlighted Denmark’s energy model at several occasions as an international inspiration, since the country manages to both provide low energy prices with a high share of variable renewable energy sources and a security of supply of 99.99% of the time. Wind power currently constitute one of the most important components of the green energy transition in Denmark, and the wind turbines in Denmark currently produce more than 40% of the total power, which is yet another world record. The strong position within this field is not only for the benefit of Denmark. Being a European leader in export of energy technologies, Denmark is among the countries that can deliver the necessary solutions to remedy negative effects of climate change on an international level. All these are reasons for why Denmark is internationally recognised as a “pioneer” country in the renewable energy field. Attaining the position required decades of sustained efforts to balance economic growth, security of energy supply and necessary transitions into cleaner energy sources. This green brand has been of much value to Denmark through its contribution to growth and job creation in sustainable sectors. Over the past 35 years, Danish GDP has increased by more than 70%, while energy consumption has remained The Danish Energy Model The Danish Energy Model has demonstrated how energy, carbon emissions and dependency on fossil fuels can be mitigated while simultaneously sustaining economic competitiveness and a high standard of living. The model is characterised by: • • • • Broad political agreements in parliament that ensure achievements of long-term targets Holistic energy planning approach, a focus on energy efficiency and support for renewable energy through synergies between taxation schemes and policies Strong public-private sector corporation that enhances innovation in the energy field Environmental taxes that reflect environmental costs of production and consumption Effective integration of renewable energy source in the energy system. These principles have helped Denmark become one of the world’s most energy efficient economies with an energy consumption among the lowest in the world relative to the size of its economy. Although analyses show that the initial costs of introducing renewable energy sources in the Danish system was high, declining renewable energy prices combined with increasing prices for fossil fuels have boosted the competitiveness of renewable energy sources like wind and solar relative to traditional sources. This highlights the importance of the long-term perspective that characterizes the Danish energy model, which has ensured synergies between long-term economic growth and an ambitious approach in tackling climate change. Denmark has been through an energy transition Wide-ranging policies and regulations were necessary in order to lead Denmark to become one of the frontrunners in global rankings on renewable energy. Only a few decades ago, Denmark had an exceptionally high dependence on oil in the energy mix, peaking in 1973, when 90% of the energy supply was based on imported oil. Thus, the oil crisis in the 70’s triggered economic difficulties and severely challenged the security of energy supply in Denmark. This stimulated a shift from an oil-based to a coal-based Danish electricity production in order to decrease dependency on imported oil. New energy plans increasingly started to focus on domestic 9