From 2013 to 2023, the Solar Photovoltaic Gross Electricity Production in Finland has seen substantial growth, escalating from 560 tonnes of oil equivalent to 39,070 tonnes of oil equivalent. The year-on-year variation shows significant fluctuations, peaking in 2017 with a 119.87% increase. Although the growth rate has slowed in recent years, it still maintained a healthy 20.8% increase in 2023. Over the last five years, the CAGR has averaged 38.17% annually, indicating consistent expansion despite varying yearly percentages.
Looking ahead, the forecasted data from 2024 to 2028 suggests a steadier yet still positive growth trajectory, with an expected 5-year CAGR of 9.55%. By 2028, the production is anticipated to reach 72,220 tonnes of oil equivalent, representing a 57.79% increase from 2023 figures.
Future trends to watch for:
- Government policies and incentives that favor renewable energy.
- Technological advancements in solar photovoltaic technology increasing efficiency.
- Market dynamics regarding the cost of solar installations and energy storage.
- Growing environmental awareness and consumer demand for sustainable energy solutions.