Sweden Aims to Kick Fossil Fuel Dependence Completely

posted: 09/25/15
by: Discovery.com Staff
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Sweden just dropped a big chunk of change to support its quest to become the world's first fossil fuel-free nation. Authorities have dedicated an additional $546 million in the nation's 2016 budget to renewable energy development and climate change research.

Portions of the money will be funneled into electricity storage research, solar and wind energy production and clean transportation solutions, including a fleet of electric buses. Funds will also be allocated to offset the cost of renovating residential buildings to improve energy efficiency, Business Review reports.

"We will not solve [...] the challenge of climate change by making further cuts and short-sighted tax reductions. To tackle these challenges, we need to invest in Sweden. In homes and infrastructure, in knowledge and competitiveness, in the transition to a sustainable society," Minister for Finance Magdalena Andersson says in a news release.

Related: Costa Rica Hasn't Burned Fossil Fuel All Year

Last year, officials announced a plan to make Stockholm completely fossil fuel-free by 2050. Across the country, officials plan to curb emissions by 40% before 2020.

According to Bloomberg, two-thirds of Swedish electricity was generated through clean and low-carbon methods in 2014.

H/T ScienceAlert

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