Innovestor launches revolutionary solar energy system in Finland to stabilize electricity prices

The fluctuations in the price of electricity from the power exchange might soon be a thing of the past. Investment firm Innovestor has unveiled a new system to utilize solar energy that aims to revolutionize energy storage and production. Their vision is clear: instead of merely storing or producing solar energy, both capabilities will be integrated into one system.

By increasing battery capacity for solar energy storage, Innovestor aims to meet the growing demand for electricity, driven by the electrification of transportation and industry, while also curbing price increases. This “virtual power plant” will involve deploying solar production and storage systems in dozens of office buildings across Finland, collecting energy through artificial intelligence technology to create a shared pot of solar energy.

The system will include solar panels on rooftops and batteries that can collectively store electricity equivalent to the output of several wind farms, with a total storage capacity of 60 megawatt-hours. The battery system will have a capacity of 15 megawatts, comparable to about three wind turbines. Any excess energy generated will be stored and sold back to the electricity market.

The initial phase of this energy storage project, which has garnered over €20 million in investment and €3.6 million in government funding aimed at promoting green transition, is set for completion by Midsummer 2026. With installations planned in various regions including Tampere and Turku, Innovestor’s new system is expected to smooth out electricity price spikes, especially during periods of low wind and solar production, and significantly reduce CO2 emissions by more than 900 tons annually.