Growth and Economic Performance of the Norwegian Wind Power Industry and Some Aspects of the Nordic Electricity Market

Electricity has been produced in Norway in hydropower plants since 1877. The first wind power plant was put into operation in 1986. The growth in wind power production was weak in the first years after the turn of the millennium, but after Norway joined the Swedish subsidy scheme Tradable Green Certificates in 2012, there was significant growth in the wind power industry. While most of the hydropower production in Norway is owned by the public sector, the majority of wind power production is owned by foreign investors. Since wind power has been very much discussed in Norway, a levelized cost of energy (LCOE) model that can be well suited for this type of discussion is presented. The point here is that one must include all the costs, including the externalities. The Norwegian electricity market is dominated by a single player: Nord Pool. Ninety-six percent of all the electricity produced in Norway is sold through the power exchange Nord Pool, and the prices set by Nord Pool affect the finances of all the electricity producers in Norway, as well as producers in Scandinavia and the Baltic countries. This paper is a survey of the growth, development of production and economic performance of the Norwegian wind power industry and some aspects of the electricity market in the Nordic countries.

Individual Green Certificates on Blockchain: A Simulation Approach

Distributed renewable energy offers an exciting opportunity for sustainable transition and climate change mitigation. However, it is overlooked in most of the conventional tradable green certificates programs. Blockchain shows an advantage of incorporating a galaxy of distributed prosumers in a transparent and low-cost manner. This paper proposes I-Green, a blockchain-based individual green certificates system for promoting voluntary adoption of distributed renewable energy. Combing the features of blockchain technology and the theories of social norm and peer effects, the novel green ratio incentive scheme and proof of generation consensus protocol are designed for I-Green. A blockchain simulator is constructed to evaluate the effectiveness and efficiency of I-Green system. The simulation results present its potential for facilitating widespread adoption of distributed generation, and confirm the feasibility of blockchain as the information communication technology (ICT).