Solnet Group, a Finnish solar energy provider, has announced a groundbreaking solution that promises to significantly enhance the profitability of solar power investments. The company claims its Solnet Manager service, combined with rapid advancements in solar panel technology, can boost the return on investment by approximately 10%.
Solnet Manager allows businesses and individuals with solar panels or batteries to participate in the electricity reserve market, a platform where electricity supply and demand are balanced in real-time. By aggregating the energy production of multiple customers, Solnet can offer larger volumes to the reserve market, generating additional revenue for its clients.
The company's co-founder, Arttur Kulvik, highlighted the drastic improvements in solar panel technology and power output, resulting in investment returns of 12% to 15%. He also emphasised the growing demand for solar energy in Finland, as evidenced by the increasing number of solar power plant projects and the EU directive mandating solar installations on all new public buildings by the end of 2026.
Solnet's innovation comes at a time when the Finnish electricity grid faces challenges due to the fluctuating nature of renewable energy sources like wind and solar power. Kulvik explained that solar power is well-suited for down-regulation, reducing output when electricity production exceeds demand, thereby stabilising the grid.
In addition to Solnet Manager, the company integrates with customers' existing energy management systems to optimise consumption patterns and further improve efficiency. By acting as a balance responsible party in the reserve market, Solnet assumes the risk of delivering the offered energy quantities, earning its revenue through a margin between the market yield and the amount billed to customers.
Founded in 2014, Solnet has primarily focused on building solar energy systems for companies in Finland, Germany, and the Netherlands. However, the company has recently expanded into energy storage solutions, particularly in the Netherlands, where demand for batteries is high due to grid issues.
With a projected turnover of €50 million this year, Solnet is poised for further growth and expansion into new markets. The company's founders are confident in their business model, highlighting the positive financial results achieved in recent years and their commitment to continued innovation in the solar energy sector.
