UK Solar Power Market

UK Solar Power Market Overview:

The UK solar power market size reached 23.50 GW in 2024. Looking forward, IMARC Group expects the market to reach 130.00 GW by 2033, exhibiting a growth rate (CAGR) of 18.70% during 2025-2033. The market is primarily driven by the implementation of government incentives and policy support, continual technological advancements in solar panels, rising energy prices and cost competitiveness, rise in corporate adoption of renewable energy targets, and growing public awareness and environmental concerns.

UK Solar Power Market Trends:

Technological Advancements in Solar Panels

Technological advancements have revolutionized solar panel usage by improving their efficiencies and cutting costs. Better photovoltaic (PV) technologies, including more efficient multi-junction solar cells, have improved energy conversion efficiency and played a role in the growth of solar power in the UK. Meanwhile, developments in battery storage technologies have ensured that the surplus energy generated during peak sunlight hours by consumers can be stored and used at a later stage. Production costs are decreasing, due to economies of scale and mass production, which is part of the reason that solar systems are more readily available for homeowners as well. This has, in turn, made solar installations pencil out more, hence the growth in market adoption. Solar integrated with smart grids & energy management systems is among other solar innovations that are significantly attracting consumers and improving efficiency in energy distribution, hence fostering growth in the solar power market.

Government Incentives and Policy Support

The UK government has backed solar power growth with various policies and financial incentives. The Feed-in Tariff (FiT) scheme that pays homeowners and businesses to generate their own electricity from solar panels is one of their most prominent schemes. While ultimately closing to new applicants in 2019, this scheme paved the way for solar power take-up throughout the UK. More recent initiatives like the Smart Export Guarantee (SEG) have served to boost solar power by providing households with an opportunity to sell any excess electricity back to the grid. In the UK, the commitment to reaching net-zero emissions by 2050 has further supported solar with a framework that is designed to accelerate decarbonization. These include tax reliefs and subsidies for businesses investing in solar energy and planning permissions, as well as grid access initiatives to provide swift integration of any solar energy project. These government interventions cumulatively accelerate market growth by relaxing the financial constraints among end-users and stimulating demand.

UK Solar Power Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the region level for 2025-2033. Our report has categorized the market based on type and deployment.

Type Insights:

• Solar Photovoltaic (PV)
• Concentrated Solar Power (CSP)

The report has provided a detailed breakup and analysis of the market based on the type. This includes solar photovoltaic (PV), and concentrated solar power (CSP).

Deployment Insights:

• Utlility
• Non-Utility

A detailed breakup and analysis of the market based on the deployment have also been provided in the report. This includes utility and non-utility.

Regional Insights:

• London
• Southeast
• Northwest
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include London, Southeast, Northwest, East of England, Southwest, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

UK Solar Power Market News:

• On September 11, 2024, Island Green Power proposed a 500MW solar and battery energy storage project in Norfolk, England, called the East Pye Solar Project. The development, classified as a Nationally Significant Infrastructure Project, requires approval from the Department of Energy Security and Net Zero, with construction expected to take two to three years. Community consultations are set to begin in autumn 2024 to address ecological enhancements and community benefits.
• On July 21, 2024, the UK government approved three new solar farms in the Midlands, which will power over 400,000 homes. Energy Secretary Ed Miliband aims to triple solar capacity by 2030, contributing to the country's renewable energy goals. The project has sparked some local criticism over land use, particularly with the Sunnica project in Suffolk.

UK Solar Power Market Report Coverage:

Key Questions Answered in This Report:

• How has the UK solar power market performed so far and how will it perform in the coming years?
• What is the breakup of the UK solar power market on the basis of type?
• What is the breakup of the UK solar power market on the basis of deployment?
• What is the breakup of the UK solar power market on the basis of region?
• What are the various stages in the value chain of the UK solar power market? 
• What are the key driving factors and challenges in the UK solar power?
• What is the structure of the UK solar power market and who are the key players?
• What is the degree of competition in the UK solar power market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK solar power market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the UK solar power market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK solar power industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.