Sweden will set up 460 MW of photo voltaic within the first half of 2024, following a 12 months of file deployment in 2023. However, market development is sluggish resulting from falling costs in electrical energy and uncertainty round inexperienced tax reductions for batteries, in line with Svensk Solenergi.
Sweden put in 460 MW of photo voltaic within the first half of the 12 months, in line with statistics from Svensk Solenergi, the principle Swedish photo voltaic trade affiliation.
The outcomes educate to a slowdown within the photo voltaic market in Sweden, after a file 1.6 GW of PV capability deployed in 2023. Svensk Solenergi reviews that 27,500 photo voltaic installations can be related in Sweden till July 2024, barely greater than the 26,600 initiatives throughout the identical interval in 2022, however considerably lower than of 66,000 related final 12 months.
The affiliation mentioned it expects a pointy decline in installations. In early 2023, the photo voltaic market advantages from excessive electrical energy costs and world uncertainty, the group defined. In distinction, 2024 begins with low electrical energy costs and an unsure authorized state of affairs concerning inexperienced tax reductions for batteries.
“The slowdown within the first half of 2024 could look unusual for those who evaluate it to 2023. But if we glance again just a few years, we see that the variety of installations is increased lower than in 2022 and double the quantity in 2021, regardless of the ambiguities surrounding the inexperienced decline that characterizes the primary half of 2024,” mentioned Svensk Solenergi CEO Anna Werner.
Residential-scale installations under 20 kW accounted for 260 MW of further capability related to the grid by way of July. Werner famous that in June, the Swedish Tax Agency reinstated the inexperienced tax deduction for photo voltaic cell system batteries.
“Now we’ll see how the residential market recovers for the remainder of the 12 months, when householders do not should drive round with the mistaken handbrake on,” he mentioned. Werner.
Meanwhile, medium-sized initiatives between 20 kW and 1,000 kW accounted for 190 MW of newly related electrical energy this 12 months. This is a 75% improve from the identical time interval to July 2022.
“Commercial gamers proceed to extend their investments, which exhibits that photo voltaic vitality continues to be a superb long-term funding,” mentioned Werner.
Earlier this month, Swedish photo voltaic builders Alight and Svea Solar introduced a partnership with state-owned Sveaskog, the nation’s largest landowner, to develop 2 GW of latest photo voltaic on the land of Sveaskog.
In May, Brion Solenergi started development of a 14 MW rooftop photo voltaic array at Sweden’s largest warehouse. It is billed as the most important rooftop photo voltaic mission within the Nordic area.
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