The solar photovoltaic (PV) energy supply in Finland, measured in Thousand Tonnes Of Oil Equivalent (TTOE), has shown a substantial upward trend. From an actual value of 40.12 TTOE in 2023, the forecasted data suggest consistent growth: 45.77 TTOE in 2024, 52.43 TTOE in 2025, 59.06 TTOE in 2026, 65.66 TTOE in 2027, and 72.22 TTOE in 2028. The year-on-year variations indicate a steady increase in solar PV energy supply.
Comparison of annual growth rates:
- From 2023 to 2024: 14.1% increase
- From 2024 to 2025: 14.6% increase
- From 2025 to 2026: 12.6% increase
- From 2026 to 2027: 11.2% increase
- From 2027 to 2028: 10.0% increase
The Compounded Annual Growth Rate (CAGR) from 2023 to 2028 showcases an average annual increase of 12.5%, indicating a robust and continuous upward movement in solar PV energy supply.
Future trends to watch for:
- Technological advancements in solar PV to enhance efficiency
- Government policies and incentives promoting renewable energy
- Integration of energy storage solutions to ensure reliability
- Market response to the increasing adoption of solar PV in residential and commercial sectors
