This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 7/22/2019

Overview

Norway and its Nordic neighbors are considered world leaders in the use of renewable energy, clean technology and alternative fuels.  Norway has accepted a number of international commitments to reduce emissions (including from carbon dioxide, sulphur and NOX).  Emissions of carbon dioxide has proven to be a challenge for Norway, given its role as a significant exporter of oil and gas.  Still, Norway considers itself a global environmental champion and is on the leading edge of several clean energy technologies, especially concerning hydropower, carbon capture and storage, solar and offshore wind. 

Hydropower:  Norway has considerable hydro resources and has over the past 100 years constructed more than 330 dams.  There are still new niche developments and technology potential associated with hydropower.  Norway is a leader in pumped storage hydropower developments.

Carbon Capture and Storage (CCS):  As part of its commitment to a carbon neutral economy, Norway considers CCS a high priority and has played an important role in the development of CCS technologies.  The commitment to increase CCS as part of offshore production and to develop a test center for gas-fired power stations with CCS in Norway has been a centerpiece of Norway´s energy policy.  Norway is also funding projects for CCS capture and storage, for example in a waste recycling plant in Oslo (Klemetsrud) and a cement production site in Telemark (Norcem, Brevik).

Electrifying offshore oil platforms:  The parliament decided in 2014 for electrification of all fields at Utsirahøyden in the North Sea - Gina Krogh, Ivar Aasen, Edvard Grieg, and the fourth and largest, Johan Sverdrup, where Equinor is the operator.  Electricity will be provided either from the mainland or from offshore, floating wind turbines. 

Wind power:  This is the renewable energy source where most investments are focused and which is also the source closest to commercial viability (including companies like Equinor, Statkraft, Scatec, Havgul, Aker Wind Energy, Fred. Olsen Renewables).  Some offshore acreage has been released, but the issue of government subsidies is still subject to a political discussion.

Solar power:  Solar power R&D and production has been a fast-growing sector of the global energy market.  Norway has been ambitious and several solar technology companies (including REC Solar, REC Silicon, NorSun, Scatec Solar) participate in developments across the entire value chain, but dealing with constantly lowered margins is a challenge.   

Bio fuels and bio mass:  Norway has a total of 765 million m3 of forest, with an annual contribution of 25 million m3 -  about 47% of Norway’s landmass.  This has hardly been utilized for fuels, so the potential for “advanced bio fuels” is large considering unpopular imports of bio fuels competing with food crops. 
Green Buildings: Smarter more efficiant and sometime energy producing buildings has become a part of a smart city priority, with municipalities taking a stake in private and public development. Green building is therefore a part of a holistic plan of building a more sustainable society.  A wide range of innovative technologies from the United States fit well into Norway’s smart city developments.

Opportunities

To develop the technologies necessary to meet the twin challenges of energy security and climate change, the Norwegian Government believes that it must use a mix of political incentives/ persuasion and market mechanisms. U.S. companies has a lot to offer within maritime, engeneering and energy applications.

Web Resources

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.