Electricity in Finland in 2024

Finland has reached an impressive milestone in its journey toward sustainable energy by securing over 91% of its electricity from low-carbon sources. Almost 38% of this clean electricity is generated through nuclear power. Wind energy is also a strong contributor, providing about 23% of the country's electricity. Hydropower accounts for close to 16%, while biofuels make up almost 12%. Despite these achievements, there remains a small reliance on fossil fuels, which account for just over 5% of electricity generation, along with net imports of approximately 4% and solar energy contributing roughly 1.4%. With the pressing need to decarbonize the transport, heating, and industrial sectors, Finland faces the challenge of increasing its electricity supply without compromising its commitment to low-carbon solutions.

Suggestions

To meet the rising electricity demand while maintaining its low-carbon goals, Finland could expand its existing nuclear and wind energy capacities, given their already significant contributions. Investing in the development and expansion of nuclear power plants would further solidify its low-carbon electricity base, providing a stable and reliable energy source. Similarly, increasing wind power installations would harness the abundant wind resources Finland has, while also providing flexibility and additional capacity to the energy grid. Exploring these avenues can reduce reliance on fossil fuels, thereby enhancing energy security and mitigating the detrimental impacts of climate change and air pollution.

History

The journey toward low-carbon electricity in Finland has evolved over several decades. In the early 1980s, Finland made significant advancements in nuclear power, with a notable increase of 7.4 TWh in 1981, along with a 4 TWh surge in hydropower in the same year. Throughout the 1990s and early 2000s, hydropower experienced fluctuations, with both rises and sharp declines such as a 2.4 TWh drop in 2002. The late 2000s witnessed continued investment in hydropower, with several years of gains, although declines were also notable. The last two decades have seen significant growth not just in hydropower, but also in wind energy, which saw a particularly remarkable increase in the early 2020s, including a 5.4 TWh boost in 2024. A notable surge in nuclear power in 2023, with a striking 9 TWh increase, underscores Finland's commitment to sustainable energy solutions. These developments highlight Finland's steadfast progress in enhancing its low-carbon electricity infrastructure to meet future energy demands.

Electricity Imports and Exports

Balance of Trade

Maximum Imports

Data Sources