Spatial optimization of solar PV and wind power capacity in Finland and correlation analysis

The rapid growth of renewable energy sources requires strategic planning to optimize their investment and geographic deployment. In Finland, strong seasonal and geographic variability in solar and wind resources poses challenges in meeting electricity demand with renewables. This study addresses these challenges through spatial optimization of solar PV and wind power capacities across Finland, focusing on varying electricity coverage scenarios to meet demand based on a 10-year consumption profile. Additional system costs arising from capacity concentration are included in the model to evaluate economically balanced capacity distributions. Correlation analysis highlights the complementary nature of solar and wind energy in the Nordic conditions, with seasonal and daily patterns supporting their synergistic potential to stabilize the grid. These insights underline the critical importance of balancing regional capacities, integrating storage solutions, and diversifying energy sources to enhance system resilience and efficiency. The key findings reveal that achieving 100% electricity coverage without the use of energy storage is nearly impossible. However, an optimal balance point is identified at approximately 76% electricity coverage, where underproduction and overproduction are equal, emphasizing the potential for 100% coverage through adequate energy storage systems. The levelized cost of electricity (LCOE) for this balance point is found to be approximately 44 €/MWh for a spatially optimized system.