In Europe, a US$546 million investment in climate protection measures will see Sweden come closer to its goal of becoming one of the first nations in the world to be free of fossil fuels.
The government means to achieve this goal by investing in smart energy technologies: smart grids, energy storage, clean transport, and additional renewable energy generation.
Photovoltaic investment will rise nearly eightfold to 390 million Kroner (US$47 million) per year between 2017 and 2019, the government announced at a press conference in Stockholm.
The plan is to spend a total of 1.4 billion Kroner.
Data from Bloomberg puts Sweden’s energy generation mix at about two-thirds from clean and low-carbon sources as of 2014.
While no confirmed date for reaching the target for becoming fossil free has been set, Stockholm may reach that goal by 2050.
Increased spend on smart energy by the Swedish government will see 50 million kronor spent annually on electricity storage research, 10 million kronor on smart grids and 1 billion kronor to renovate residential buildings and make them more energy efficient, according to a report by Bloomberg.
Smart manufacturing on the radar for US DoE
Meanwhile in other smart energy news, the US Department of Energy has announced up to US$70 million in funding for the next Clean Energy Manufacturing Innovation Institute, which will be focused on smart manufacturing.
The institute will also demonstrate the use of sensors, controls, platforms and modelling in manufacturing processes with "a goal to increase energy efficiency by at least 15% and improve energy productivity by at least 50%," a release from the DoE reported.
“SMART Manufacturing is a key information technology approach to unlocking energy efficiency in manufacturing,” said Secretary Ernest Moniz.
“These technologies will make industries from oil and gas to aerospace and food production more competitive with intelligent communications systems, real-time energy savings and increased energy productivity.
"Energy intensive industries, such as steelmaking, could see a 10 to 20 percent reduction in the cost of production, making products such as solar panels and chemical materials, such as plastics, as well as the cars and other products they go into, more affordable for American consumers.”