Forecast: Renewable Electricity in Finland

Since 2013, renewable electricity production in Finland has shown an overall upward trend, starting at 35.97 units and reaching 56.23 units in 2023. Despite some yearly fluctuations, the Compound Annual Growth Rate (CAGR) from 2013 to 2023 stands at approximately 4.22%. The years 2015 and 2020 saw the most significant increases, contributing to this long-term growth.

In recent years (2022 and 2023), year-on-year growth rates have moderately increased at around 2.68% and 3.48%, respectively. This suggests a consistent rise in renewable electricity production, albeit at a slower pace compared to the earlier part of the decade.

Looking ahead from 2024 to 2028, forecasts indicate continued growth with a projected CAGR of 2.44%, leading to an expected increase of 12.82% overall. This suggests a sustained commitment to expanding renewable electricity capacity.

Future trends to watch for include technological advancements in renewable energy, policy changes supporting green energy, and potential market disruptions such as shifts in global energy supply chains or significant changes in consumer demand for clean energy.