Sweden installs 460 MW of solar in H1, down from 2023 boom

Sweden installed 460 MW of solar power during the first half of 2024, marking a sharp decline from in installations compared to the same period in 2023, Swedish solar industry association Svensk Solenergi said.

Excluding 2023, which saw a record 1.6 GW of solar photovoltaic installations due to surging electricity prices and global uncertainties, Sweden’s solar deployment figures are trending upwards, according to the trade association.

Low electricity prices and an uncertain legal situation regarding green tax credits for batteries explain the downturn so far this year.

“The slowdown in the first half of 2024 may look dramatic if you compare it to 2023, but if we look back a couple of years, we see that the number of installations is slightly higher than in 2022 and twice as many as in 2021, despite the uncertainties surrounding the green tax deduction that characterised the first half of 2024,” Svensk Solenergi CEO Anna Werner said.

Up to July, 27,500 installations were connected in Sweden, just under a thousand more than in the same period in 2022.

Homeowners with small installations, less than 20 kW, connected 260 MW, compared to 270 MW in January-July 2022. Medium-sized installations by real estate companies and businesses showed a substantial increase -- 190 MW up to July 2024 compared to 110 MW during the same period in 2022 -- indicating that commercial players still see solar energy as a good long-term investment, according to Werner.

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