The renewable energy industry is performing extremely well in Denmark. The country’s energy minister Lars Christian Lilleholt said it’s performing so well, they’ll be able to stop providing state support for clean energy providers in just a few years. Denmark’s renewable energy industry will be able to stand on its own, and Lilleholt said he could not have predicted this outcome even last year.
Denmark’s renewable energy industry needed subsidies for over 40 years. But soon they’ll be able to survive without a boost from the government. According to Lilleholt, the country’s experience shows it’s no longer cheaper to produce coal than renewables. The milestone is even more crucial right as the direction of global energy policies is uncertain while United States President Donald Trump embarks on an ill-advised attempt to revive coal. According to Bloomberg, the president has “made clear he’s an enemy of wind power.”
Lilleholt said technology will help clean energy become even more efficient and said “already today, it’s impossible to build a new coal power plant without support.”
A government-appointed panel gave him the findings on the energy future of Denmark, and said the country is set to meet power needs entirely with renewable energy by 2050. Half the country’s energy requirement could be supplied by renewables as soon as 2030. The panel thinks a large amount of new capacity will be constructed without subsidies.
Industry members seem just as surprised as Lilleholt. Outgoing CEO of engineering firm Danfoss Niels B. Christiansen thinks the price of producing renewable energy could fall below market electricity prices between 2020 and 2030, saying, “A year ago, it was debatable whether renewable energy costs could drop so low. But everyone’s now thinking that it will probably happen sooner.”