I’m not entirely sure how narrow or broad the question is here, but I can offer some informed answers on a couple different points.

First, it’s important to recognize that, though Solomon may have existed historically, he cannot be independently verified as a figure outside of texts like Kings, Chronicles, and the various other ancient Jewish or Israelite texts attributed to him. Archaeological attempts to prove his existence have repeatedly come up short. Moreover, even if he did exist, it is very likely that stories about him have been enriched by myth. Some scholars have even suggested that the stories we have in Kings and Chronicles about David and Solomon are actually taken from the achievements and events of Omri and Ahab over a century later. So, anything I can expound upon here should not be tied directly to Solomon as a historical person, but Solomon as a figure of myth.

That said , Solomon is offering animal sacrifice here. The term used is עלה (olah) which is for whole burnt animal offerings. These are usually either fowl, cattle, or ovine (sheep and goats) offerings which are skinned, cleaned, and entirely burnt up. This means that nothing of the animal was left for consumption by the sacrificial officiants after the sacrifice. So priests, kings, or other sacrificial officiants would gain nothing material by such sacrifices, as opposed to other offerings wherein they would consume some of the meat.

According to the various instructional codes found in the Hebrew Bible and in other ancient Jewish texts, such sacrifices were made twice daily and were increased on festival occasions. In this case, Solomon is depicted as offering so many whole burnt offerings because he is giving thanks for having succeeded to the kingship after his father David. These sacrifices mark the beginning of his reign and depict him as a pious figure according to the particular standards set by Kings, which were not historical for the period in which Solomon would have reigned. These rules come from at least four centuries later, if not more.