Will solar power be a competitive option in Iceland?

Iceland, known for its geothermal and hydropower, is starting to adopt solar energy. Thanks to falling costs and better technology, solar power is expected to become a competitive option within the next three to five years. The country has set a goal to generate 400 GWh of solar power annually by 2040.

Why is Finland investing 4 billion euros in solar energy?

Alongside these efforts, Finland is investing four billion euros in upgrading its grid and offering financial aid and tax breaks for solar installations, helping to keep solar energy affordable. These initiatives are paying off. Finland now boasts the lowest non-household electricity prices in the EU.

Is Finland doubling down on solar power?

Finland is also doubling down on its solar efforts. By the end of 2023, Finland’s installed solar power capacity hit 1,000 MW, an increase of more than 300 MW in just one year. Most of that power (936 MW) was created by micro-generation in residential areas.