5.4 future investments in the power sector
It would require € 93 billion in investment for the Energy [R] evolution scenario to become reality (including investments for replacement after the economic lifetime of the plants) - approximately € 2.3 billion annual or € 11 billion more than in the Reference scenario (€ 82 billion). Under the Reference version, the levels of investment in conventional power plants add up to almost 43% while approx 57% would be invested in renewable energy and cogeneration (CHP) until 2050.
Under the Energy [R]evolution scenario, however, Finland would shift almost 99% of the entire investment towards renewables and cogeneration. Until 2030, the fossil fuel share of power sector investment would be focused mainly on CHP plants. The average annual investment in the power sector under the Energy [R]evolution scenario between today and 2050 would be approximately € 2.3 billion.
Because renewable energy has no fuel costs, however, the fuel cost savings in the Energy [R]evolution scenario reach a total of € 98 billion up to 2050, or € 2.5 billion per year. The total fuel cost savings therefore would cover more than eight times of the total additional investments compared to the Reference scenario. These renewable energy sources would then go on to produce electricity without any further fuel costs beyond 2050, while the costs for coal and gas will continue to be a burden on national economies.