Others, including those who are market participants, were more optimistic about the renewable source's future in Estonia.

Installing solar panels on roofs or elsewhere may seem attractive to property owners as a way of getting cheaper electricity – even with the option of selling excess back to the national grid; a similar practice has been in place with wind power.

However, at 59 degrees north, solar energy is only feasible in the summer months and, even then, with Estonia's weather, can be hard to forecast. On top of this are other costs such as network connection fees, while there is a danger of the market becoming saturated by the number of people generating solar power.

Electricity prices are expected to fall ahead of summer, as a combination of growing solar and wind power generation, as well as high water levels in Latvia and Finland, exert downward pressure on prices, despite potential effects from developments further afield in the Strait of Hormuz.

Energy expert Marko Allikson referred to 2025, which he said was a good benchmark.
"In July, for example, the average price was between 30 and 40 [euros per megawatt-hour], and daytime prices were relatively close to zero: Let's say below 10 euros per megawatt-hour," Allikson said.

Nonetheless, consumers who have invested in solar panels will need to make smart choices, said another expert, Enefit energy trading manager Tiit Hõbejõgi. Periods of low prices can potentially be highly beneficial to the ordinary consumer, he said, especially if they are able to effectively manage their own consumption.

"When we talk about homeowners with solar parks, the best option for them is to shift electricity use, where possible, to those periods when electricity is being generated on site," Hõbejõgi said.

A third market participant, retail business manager at renewables company Sunly, Rasmus Udde, said now is a very good time to take the longer-term perspective.

"We have a fuel crisis, so if you were considering changing your car, look toward an electric vehicle; if you were thinking about upgrading your heating system, think about a heat pump. Cooling and heating come together with that, which means that the more electricity you use yourself, the better it is for you, as other costs will also decrease," said Udde.

However, despite the arrival of spring and summer, Allikson noted the costs associated with solar panels are actually very high, the source quite unpredictable, in Estonia.

"Solar power is relatively difficult to forecast because cloud movement is very difficult to predict, and it is not easy to do accurately with weather models. That is why the balancing costs of solar energy are very high. In other words, producing exactly the amount of solar power that was forecast is very difficult," said Allikson.

According to Allikson, homeowners with solar panels essentially have two options: storage and selling.

"Storage is certainly one thing worth considering, whether that is a good choice or not, and the other is participation in the balancing market. There are several service providers on the market that allow household consumers to participate in balancing markets with their solar panels," the energy expert explained.

Because network fees are so high, selling electricity back to the grid when prices are low can wipe out any potential profits.

"The most difficult situation is indeed for those who have no on-site consumption, when then the choice is either to shut the system down or pay extra," Hõbejõgi said.

While Sunly and Enefit remained positive on roof installations of solar panels, Allikson was more skeptical.

"No, today it is certainly not a guaranteed profitable investment, simply because there are already so many solar panels in our region," Allikson noted.

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