UK Solar Panel Market Size, Trends, Latest Insights, Analysis and Forecast 2024-2032
UK Solar Panel Market Size, Trends, Latest Insights, Analysis and Forecast 2024-2032
Blog Article
UK solar panel market is estimated to grow considerably at a CAGR of around 15.4% during the forecast period. UK is among the largest economy in Europe, majorly owing to its trading power and financial businesses. According to The Solar Trade Association (STA), the installation of solar panels in the country has been tumbling in 2017. The STA reported that it was particularly concerned by a 65% drop in the number of large-scale solar schemes on hospitals, factories, and other large buildings, which may well, have been caused by the business rate increase. Between January and March, there were about 650 rooftop deployments a week - a fall of more than 75% on the long-term average of 2,700, a week since 2010.
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The introduction of the feed-in-tariff contributes to the rapid growth of the photovoltaic module industry, with many thousands of domestic installations along with numerous commercial, community and industrial projects. For instance, in 2019, UK Government commenced two projects that include Cleve Hill and Little Crow mega-scale projects. Solar power use has increased very rapidly in recent years due to a reduction in the cost of photovoltaic panels supported by government initiatives. In 2012, the government announced that four million homes across UK will be powered by the solar panels within eight years. UK government expects Britain to contribute to total power generation by 22 GW of installed solar power capacity by 2020.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
UK Solar Panel Market by Technology
- Monocrystalline Solar Panel
- Polycrystalline Solar Panel
- Thin-Film Crystalline Solar Panel
- Other Solar Panels
UK Solar Panel Market by End-User
- Household Sector
- Corporate Sector
Company Profiles
- Chiltern Solar Ltd.
- Custom Solar Ltd.
- First Solar, Inc.
- Joju Solar
- Juwi Holding AG
- Mypower
- Naked Solar Ltd.
- Solarsense UK Ltd.
- SunPower Corp.
- UK Solar Power Ltd.
The Report Covers
- Comprehensive research methodology of the UK solar panel market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the UK solar panel market.
- Insights about market determinants which are stimulating the UK solar panel market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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