The country’s solar association Svensk Solenergi has been collecting monthly statistics from the three major electricity network companies for several years. In 2023 the country installed around 1.4 GW new solar power.
The forecast for the entire year 2024 predicts 65,000 installations with just above 1 GW of power. However, the forecast now relies on a strong autumn and a clear effect of reduced interest rates.
Up and down in the market
During the first half of 2024, the number of pre-registered solar installations increased each month until June, which saw a slight downturn. A total of 31,400 installations were pre-registered during this period; however, this is about 40% fewer than the same period in 2023, which was historically strong with 56,100 installations following the energy crisis in 2022.
Sweden: Less residential – more commercial PV installations
These sectors are benefiting from favorable financial incentives, such as tax deductions and policies allowing small producers to sell excess electricity back to the grid. This strong demand, particularly for rooftop solar systems, aligns with Sweden’s broader renewable energy goals, which aim for 65% renewable generation by 2030 and 100% by 2040.
More news about the Swedish market
Utilities are facing significant challenges
However, the utility-scale solar market is facing significant challenges. The discontinuation of certain tax relief schemes has slowed the pace of new installations, and large-scale solar projects are encountering delays due to permitting issues and competition from other renewable sources like wind and hydropower. Despite these obstacles, there is growing interest in subsidy-free solar projects, especially in southern Sweden, where energy demand is high.
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Anna Werner, CEO of Svensk Solenergi, highlights the need for continued policy support to overcome these challenges: “To maintain and accelerate the growth of solar energy in Sweden, it is crucial that we continue to see strong governmental support, particularly in streamlining the permitting process and ensuring favorable conditions for large-scale projects. This will allow us to meet our renewable energy targets and ensure that solar energy becomes a more significant part of Sweden’s energy mix.”
As Sweden continues to invest in grid infrastructure and renewable energy sources, solar power is expected to play an increasingly important role. However, its growth will largely depend on the successful implementation of supportive policies and the resolution of current bottlenecks in project development. (Carina Aspenberg)
