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United Kingdom Distributed Solar Power Generation Market Report and Forecast 2024-2032

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    Report

  • 162 Pages
  • July 2024
  • Region: United Kingdom
  • Expert Market Research
  • ID: 5990293
According to the report, the United Kingdom distributed solar power generation market size was approximately USD 3.88 billion in 2023. Aided by increasing environmental awareness and technological advancements, the market is projected to grow at a CAGR of 10.9% in the forecast period of 2024-2032, reaching a value of around USD 9.85 billion by 2032.

Distributed solar power generation refers to the decentralised production of electricity from solar energy sources, typically installed close to the point of use, such as residential homes, commercial buildings, and industrial facilities. This model contrasts with centralised solar power plants that generate large amounts of electricity at a single location and distribute it through the grid.

The United Kingdom distributed solar power generation market is experiencing a period of significant growth and transformation, driven by technological advancements, supportive government policies, and increasing environmental awareness. Distributed solar power generation, which involves producing solar energy at or near the point of use rather than at a large, centralised facility, is gaining traction as an integral part of the UK’s renewable energy strategy.

One of the most significant United Kingdom distributed solar power generation market trends is the advancement in solar technology. Innovations in photovoltaic (PV) materials and system components have led to higher efficiency rates and lower costs. The development of high-efficiency solar panels, improved inverter technologies, and enhanced energy storage solutions are making distributed solar systems more viable and attractive to both residential and commercial users. These technological advancements are reducing the overall cost of solar installations and increasing the return on investment, thereby driving the market growth.

Government policies and incentives are playing a crucial role in enhancing the United Kingdom distributed solar power generation market growth. The UK government has implemented several initiatives to encourage the adoption of solar energy, including the Smart Export Guarantee (SEG), which allows small-scale solar generators to sell excess electricity back to the grid. Additionally, the reduction of VAT on solar panel installations for residential properties and grants for renewable energy projects are providing financial incentives for homeowners and businesses to invest in solar power. These supportive policies are crucial in making solar energy more accessible and affordable, fostering the growth of the market.

Environmental sustainability and the urgent need to reduce carbon emissions are major drivers aiding the United Kingdom distributed solar power generation market expansion. As part of its commitment to achieving net-zero carbon emissions by 2050, the UK is increasingly focusing on renewable energy sources. Distributed solar power, with its potential to reduce reliance on fossil fuels and lower greenhouse gas emissions, is seen as a key component of the country’s clean energy transition. The increasing awareness of climate change and the environmental benefits of solar energy are motivating individuals and organisations to adopt distributed solar solutions.

The rise of smart grids and digital technologies is also increasing the United Kingdom distributed solar power generation market value. Smart grid technologies enable better integration and management of distributed energy resources, including solar power. Advanced metering infrastructure, real-time monitoring systems, and automated control systems allow for more efficient and reliable operation of distributed solar installations. These technologies facilitate the seamless integration of solar power into the existing energy infrastructure, enhancing grid stability and reliability. The adoption of digital solutions is therefore enhancing the feasibility and attractiveness of distributed solar power generation.

The commercial and industrial sectors are increasingly boosting the United Kingdom distributed solar power generation market, driven by the need for cost savings and corporate sustainability goals. Businesses are recognising the financial benefits of generating their own electricity through solar power, which can significantly reduce energy bills and provide a hedge against rising energy costs. Additionally, many companies are committing to sustainability initiatives and renewable energy targets as part of their corporate social responsibility (CSR) strategies. Distributed solar power generation enables businesses to demonstrate their commitment to environmental stewardship, enhance their green credentials, and meet their sustainability targets.

Residential solar power generation is also on the rise in the UK, supported by growing consumer interest in renewable energy and the financial benefits of solar installations. Homeowners are increasingly installing rooftop solar panels to reduce their electricity bills and decrease their carbon footprint. The availability of affordable solar financing options, such as solar loans and leases, is making it easier for consumers to invest in solar power. Furthermore, the development of home energy management systems and smart home technologies is enabling homeowners to optimise their solar energy usage and maximise the benefits of their solar installations.

The development of community solar projects is another notable trend driving the United Kingdom distributed solar power generation market development. Community solar projects allow multiple households or businesses to share the benefits of a single solar installation, making solar power accessible to those who may not have suitable rooftops for solar panels. These projects are particularly beneficial for urban areas where space for individual solar installations may be limited. Community solar initiatives are fostering a sense of community ownership and participation in renewable energy, contributing to the broader adoption of solar power.

The financial landscape of the United Kingdom distributed solar power generation market is evolving, with increasing investment from both public and private sectors. Financial institutions and investors are recognising the long-term potential of distributed solar projects and are providing funding and financing options to support their development. The growing availability of green bonds and other sustainable finance instruments is facilitating the flow of capital into the solar sector. This influx of investment is enabling the expansion of distributed solar infrastructure and accelerating the market growth.

Market Segmentation

The United Kingdom distributed solar power generation market can be divided based on solar module, type, installation, and end use.

Market Breakup by Solar Module

  • Monocrystalline (Mono-Si)
  • Polycrystalline (p-Si)
  • Amorphous Silicon (A-Si)
  • Others

Market Breakup by Type

  • Rooftops
  • Ground-Mounted

Market Breakup by Installation

  • On-Grid
  • Off-Grid

Market Breakup by End Use

  • Residential
  • Commercial and Industrial

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United Kingdom distributed solar power generation market. Some of the major players explored in the report are as follows:
  • Canadian Solar Inc.
  • Jinko Solar Co., Ltd.
  • UKSOL Ltd
  • Anesco Limited
  • Trina Solar Co. Ltd.
  • EDF RE Group
  • Eco2Solar ltd
  • Solarsense UK Ltd
  • EvoEnergy Limited
  • Entire Services Ltd.
  • Sungift Solar Limited
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot7 Opportunities and Challenges in the Market
8 Global Distributed Solar Power Generation Market Overview
8.1 Key Industry Highlights
8.2 Global Distributed Solar Power Generation Historical Market (2018-2023)
8.3 Global Distributed Solar Power Generation Market Forecast (2024-2032)
8.4 Global Distributed Solar Power Generation Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 United Kingdom Distributed Solar Power Generation Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom Distributed Solar Power Generation Historical Market (2018-2023)
9.3 United Kingdom Distributed Solar Power Generation Market Forecast (2024-2032)
10 United Kingdom Distributed Solar Power Generation Market by Solar Module
10.1 Monocrystalline (Mono-Si)
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Polycrystalline (p-Si)
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Amorphous Silicon (A-Si)
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 United Kingdom Distributed Solar Power Generation Market by Type
11.1 Rooftops
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Ground-Mounted
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 United Kingdom Distributed Solar Power Generation Market by Installation
12.1 On-Grid
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Off-Grid
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 United Kingdom Distributed Solar Power Generation Market by End Use
13.1 Residential
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Commercial and Industrial
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Canadian Solar Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Jinko Solar Co., Ltd.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 UKSOL Ltd
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Anesco Limited
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Trina Solar Co. Ltd.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 EDF RE Group
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Eco2Solar ltd
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Solarsense UK Ltd
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 EvoEnergy Limited
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Entire Services Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Sungift Solar Limited
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Distributed Solar Power Generation Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom Distributed Solar Power Generation Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom Distributed Solar Power Generation Historical Market: Breakup by Solar Module (USD Billion), 2018-2023
4. United Kingdom Distributed Solar Power Generation Market Forecast: Breakup by Solar Module (USD Billion), 2024-2032
5. United Kingdom Distributed Solar Power Generation Historical Market: Breakup by Type (USD Billion), 2018-2023
6. United Kingdom Distributed Solar Power Generation Market Forecast: Breakup by Type (USD Billion), 2024-2032
7. United Kingdom Distributed Solar Power Generation Historical Market: Breakup by Installation (USD Billion), 2018-2023
8. United Kingdom Distributed Solar Power Generation Market Forecast: Breakup by Installation (USD Billion), 2024-2032
9. United Kingdom Distributed Solar Power Generation Historical Market: Breakup by End Use (USD Billion), 2018-2023
10. United Kingdom Distributed Solar Power Generation Market Forecast: Breakup by End Use (USD Billion), 2024-2032
11. United Kingdom Distributed Solar Power Generation Market Structure

Companies Mentioned

  • Canadian Solar Inc.
  • Jinko Solar Co. Ltd.
  • UKSOL Ltd
  • Anesco Limited
  • Trina Solar Co. Ltd.
  • EDF RE Group
  • Eco2Solar ltd
  • Solarsense UK Ltd
  • EvoEnergy Limited
  • Entire Services Ltd.
  • Sungift Solar Limited

Methodology

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Table Information