Electricity in Faroe Islands in 2022

In 2022, more than half of the electricity consumed in the Faroe Islands was generated from fossil fuels, specifically making up around 62% of the total electricity mix. On the other hand, low-carbon energy sources contributed to almost 38% of the electricity generation. Breaking down the clean energy share further, hydropower was the most significant, providing about 26% of the overall electricity, while wind energy accounted for roughly 12%. These low-carbon sources are crucial for reducing the emissions associated with electricity generation and combatting climate change, highlighting the area for potential growth in clean energy contributions.

Suggestions

To further enhance its low-carbon electricity generation, the Faroe Islands can expand wind energy, which has already established a notable presence in the energy mix. Learning from countries like Denmark and Ireland, the Faroe Islands could strive to raise the proportion of electricity generated by wind power, as these nations have successfully integrated a significant share of wind energy, achieving 59% and 33% respectively. Although the development of nuclear power might not be practical for the Faroe Islands due to its small size, the focus on expanding its existing wind infrastructure can ensure cleaner, sustainable electricity generation moving forward.

History

Historically, the Faroe Islands have seen a stable situation regarding low-carbon electricity sources, especially during the early 2000s and into the 2010s. From 2002 to 2017, the electricity generated from hydropower and wind remained unchanged, reflecting neither significant growth nor decline over these years. The constancy over the years calls for a detailed analysis to identify the potential to boost electricity generation from these sources. By reinforcing its commitment to boosting clean energy, drawing lessons from countries with successful wind energy implementations, and investing in its infrastructure, the Faroe Islands can pave the way toward a more sustainable energy future.

Electricity Imports and Exports

Balance of Trade

Data Sources