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The Finnish Solar Energy Association estimates that solar additions fell in 2024 compared to 2023, but utility-scale projects under construction are set to accelerate deployment in the coming years. Finland installed approximately 200 MW of solar in 2024, according to figures from the Finnish Solar Energy Association. Markus Andersén, chairperson of Finnish Solar Energy Association, told pv magazine that the estimate is based on a combination of outside-the-meter (of greater than 2 MW) installations, which totaled 57 MW in 2024, and inside-the-meter (of 1 MW or less) installations, which are still being finalized. An exact figure is expected around spring, once all newly deployed systems have been registered into the country’s centralized data platform, which was developed by transmission system operator Fingrid. The 2024 results are down from 349 MW added in 2023, bringing the country’s total cumulative capacity to about 1.2 GW. Solar deployment in Finland is expected to accelerate in the coming years, supported by a strong pipeline of utility-scale projects. Andersén said 531 MW of large-scale sites are under construction, with around 330 MW set to come online in 2025 and the remainder in 2026. “There are also several large-scale projects under development that are expected to start in 2025 and be ready by 2026,” Andersén told pv magazine, “I don’t know an exact figure for that, but the current list of projects that are being developed is several gigawatts. Of course not all will go forward and many of them only in 2027 or 2028, but the pipeline is big.” He explained that project profitability, the relative speed at which projects can be developed and solar’s ability to complement wind and hydro projects and ensure clean electricity is produced all year round as key drivers for the large-scale market. The forecast for installations under 1 MW is more open, Andersén added. The market slowed down in 2024 due to factors including higher interest rates, the low cost of electricity for consumers, and tightening requirements for small-scale renovation loans. “A cautious estimate is that 2025 will be better than 2024 but probably not as good as 2023,” he said, when 299 MW was installed across the residential and C&I markets. Among the utility-scale installations to get the green light in Finland last year were seven projects totaling 213 MW that will share a total €27.5 million ($28.9 million) through the EU renewable energy financing mechanism following successful bids in the EUs first cross-border solar tender. Swedish developer Alight announced several utility-scale projects in Finland last year, including two 90 MW plants announced in September, another 90 MW plant announced in June, the same month it confirmed a grid connection permit for a 100 MW project, and a 120 MW collaboration with Finland’s 3Flash in October. |
