The Solar Photovoltaic Energy supply in Finland has experienced substantial growth over the past decade, evidenced by a sharp increase in year-on-year percentages. From 2013 to 2023, the energy supply value surged from 23.23 Terajoules to 1640 Terajoules. The Compound Annual Growth Rate (CAGR) over the last 5 years (from 2018 to 2023) stands at 38.17%. As of 2024, the energy supply is forecasted to reach 1920 Terajoules.
Key trends over the last two years include a notable 26.44% rise in 2022 followed by a 20.8% increase in 2023, though this represents a gradual deceleration compared to earlier years. This suggests a maturing market with slowing, yet still significant growth.
Looking ahead, the forecasted 5-year CAGR of 9.55% (2024-2028) and a total growth rate of 57.79% over this period indicate continued expansion, albeit at a more tempered pace. Fintech innovations, improvements in solar technology, and policies favoring renewable energy will be critical trends to watch for future developments in the Solar Photovoltaic Energy sector in Finland.
