By the end of 2017, PV installed capacity in Finland increased by over 80 MW and exceeded 100%.
According to Finland's National Photovoltaic Survey, Finland's solar growth last year was the best ever, as the country's cumulative installed PV capacity increased from 37.4 MW at the end of 2016 to 80.4 MW at the end of December 2017, an increase of more than 100%. Of these, 69.8 MW comes from grid connected facilities and the remaining 10.6 MW comes from the off grid system.
The housing system accounts for about 30% of the capacity, while the commercial and industrial sectors account for 35%. The rest came from Finland's only MW solar park, a 3.6 megawatt solar power plant built by Nurmon Aurinko Oy near the city of Nurmo.
The report shows that the average price of standard crystal silicon modules dropped from 0.55 euros per watt in 2016 to 0.45 euros per watt last year, almost halving the average price of 0.85 euros per watt in 2014.
The average price of residential turn-key photovoltaic systems (up to 10 kilowatts) also fell from 2 euros per watt to 1.3 euros per watt in 2016 to between 1.8 euros per watt and 1.2 euros per watt last year. At the same time, commercial and industrial projects fell from 1.35 euros per watt to 0.95 euros per watt in 2016 to 1.15 euros per watt to 0.85 euros per watt in 2017.
The report stresses that there is no formal solar deployment target in Finland. However, there are several policies in the country to encourage solar energy production for self consumption. The Department of Economic Affairs and Employment provides a 25% discount for the purchase and installation of rooftop solar energy users, businesses and communities. Agricultural enterprises can also apply for 40% of the investment subsidies for renewable energy production to the Rural Affairs Bureau. In addition, individuals who install rooftop arrays can use tax credits.