Market Size of UK Solar Power Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 18.53 gigawatt |
| Market Volume (2029) | 53.12 gigawatt |
| CAGR (2024 - 2029) | 23.53 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
United Kingdom Solar Power Market Analysis
The UK Solar Power Market size in terms of installed base is expected to grow from 18.53 gigawatt in 2024 to 53.12 gigawatt by 2029, at a CAGR of 23.53% during the forecast period (2024-2029).
- Over the medium period, factors such as supportive government policies and demand for renewable energy sources to decrease dependency on fossil fuels and carbon footprints are driving the United Kingdom solar power market during the forecast period.
- On the other hand, factors such as limited land and increasing adoption of alternative renewable energy sources are expected to hinder the growth of the United Kingdom solar power market during the forecast period.
- Nevertheless, the country has ambitious solar power targets to reach 40GW installed capacity by 2030. Such factors are expected to create opportunities for companies operating in the United Kingdom solar power market during the forecast period.
