Market Size of United Kingdom Distributed Solar Power Generation Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 1.73 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Distributed Solar Power Generation Market Analysis
The UK distributed solar power generation market is expected to register a CAGR of about 1.73% during the forecast period of 2022-2027, reaching around 8.45 GW by 2027, up from 7.49 GW in 2020. During Q1 2020, the UK distributed solar power facilities with a capacity range of 0 kW-5 MW witnessed no significant impact. Solar PV with a capacity of 0-4 kW saw the highest growth during Q1 2020, signifying no considerable impact of COVID-19 on the market studied. Factors like advancements in technology leading to solar panel manufacturing cost reduction and increase in efficiency have been the major factors for the growth of distributed solar power generation market in the United Kingdom. However, the changes in government policies related to the small-scale solar industry in the country are expected to hinder the growth of the market.
- The domestic or residential rooftop segment in the United Kingdom is expected to be the largest market during the forecast period, over rising environmental concerns and economic benefits of domestic distributed solar power generation.
- Commercial and industrial sectors are showing interest in distributed solar power generation due to various economic benefits and are considered a constant source of energy that can eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids. This, in turn, is expected to create a huge opportunity for the distributed solar power generation market in the country.
- The declining costs of small-scale solar PV systems and their installation have been the major factors driving the market studied. The declining trend of the average cost of solar PV panels, the cost of installation, etc., are leading to market growth.
