2022
9
UK Solar Panels Market Report 2022
2022-10-11T04:03:06+01:00
OX1102595
1495
156401
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Report
en_GB
“The outlook for the UK solar panels market is bright, fuelled by the decarbonisation agenda across the public, commercial and residential sectors and the accelerated shift to renewables generation. All…

UK Solar Panels Market Report 2022

£ 1,495 (Excl.Tax)

Description

The UK Solar Panels Market Report identifies homeowners’ attitudes towards installing solar panels and key developments and drivers in the solar panel market. This report covers the UK solar panels market share, market forecast, market segmentation and UK solar panel market trends.

Current Landscape of the Solar Panels Market

In the first six months of 2022, the UK installed 556MW of solar PV energy, representing a significant growth of 80% in new solar PV installations compared to last year. Despite strong demand growth, the solar panels market is facing ongoing challenges, including elevated prices for silicon, wafer, cell and modules, while the impact of high inflation on purchasing power is dampening the global economy.

 

Solar Panels Market Share and Solar Panels Market Growth

The commercial solar panel’s sector will drive a large proportion of the solar panels market growth. As companies increasingly look to decarbonise their operations, the solar panels market offers an attractive route to zero-carbon energy.

Local authorities are also relying on the solar panels market to decarbonise and progress towards net zero targets, with solar PV deployment on public buildings and social housing set to accelerate

  • UK solar panels market size: UK solar PV capacity is expected to grow by 1.3 GW to 15.9 GW in 2022.
  • 60% of homeowners without roof-mounted solar panels will likely consider installing them in the next few years.
  • 74% of UK adults agree that installing home energy efficiency measures is expensive.

 

Future Trends in the UK Solar Panels Market

In the residential sector of the solar panels market, recent changes to the Building Regulations and the 2025 Future Homes Standard promise strong growth potential in the new build sector. In the retrofit sector, demand is expected to be driven by more compelling offers for customers in terms of financing and installation of solar-plus storage systems.

Given that solar is likely to be involved in ongoing CfD auctions, government-support schemes will support the solar panels market growth and make up a considerable portion of large-scale solar PV installations.

To discover more about the UK Solar Panels Market Report 2022, read our UK Renewable Energy Market Report, or take a look at our Sustainability Market Research Reports.

 

Quickly Understand

  • Historic market development in the solar panels market.
  • How the solar panels market is becoming established in a post-subsidy world.
  • Key developments and drivers in the solar panel market’s sectors, rooftop (residential and non-residential) and ground-mount.
  • How the solar panels market is expected to develop over the next five years.
  • Explores solar panels market size and solar panels market share.

 

Covered in this Report

Products: Domestic, building-mounted, and ground-mounted panels.
Brands:  Anesco, British Solar Renewables, EvoEnergy, Solarcentury Holdings.

 

Expert Analysis from a Specialist in the B2B Market

This report, written by Claudia Preedy, a leading analyst in the B2B sector, delivers in-depth commentary and analysis to highlight current trends in the UK solar panels market and add expert context to the numbers.

The outlook for the UK solar panels market is bright, fuelled by the decarbonisation agenda across the public, commercial and residential sectors and the accelerated shift to renewables generation. All main market segments (ground-mount, residential and non-residential rooftop) are in high growth mode, with sustained strong deployment of solar PV forecast for the coming years.”

 

 

Claudia Preedy
B2B Analyst

Table of Contents

  1. Overview

    • Key issues covered in this Report
    • Market context
    • Products covered in this Report
  2. Executive Summary

    • The five-year outlook for UK solar panels
      • Figure 1: Solar panels outlook, 2022-27
    • The market
    • UK solar PV installed capacity exceeds 15GW
      • Figure 2: Photovoltaic installations in the UK, 2013-21
    • Solar secures 2.2GW in the latest CfD auction
    • Residential rooftop market to be driven by solar-plus-storage systems and growing EV market, but more attractive finance options are required
    • Commercial rooftop solar PV market is taking off
    • Outlook for solar PV market is bright
      • Figure 3: Forecast new photovoltaic capacity installed in the UK, 2022-26
    • Companies and brands
    • Key industry players
    • Installers are diversifying into other green tech sectors
  3. Issues and Insights

    • New finance options are required to boost post-subsidy residential rooftop market
    • Subsidy-free, large-scale solar PV market takes off
    • Move from p-type to higher performing, higher efficiency n-type modules set to be the next major technology change
  4. Market Size

    • Introduction
    • UK installed solar PV capacity reaches 14GW, according to official statistics
      • Figure 4: Photovoltaic installations in the UK, 2016-22
      • Figure 5: Photovoltaic installations in the UK, 2013-21
    • But actual deployment is higher as government data fails to capture subsidy-free schemes
  5. Market Segmentation

    • Overview
      • Figure 6: Photovoltaic installations in the UK, by capacity of installation, 2017-22
      • Figure 7: Photovoltaic installed capacity in the UK, by size, 2022
    • Solar PV installations by accreditation scheme
      • Figure 8: Photovoltaic installations in the UK, by accreditation scheme, 2017-22
    • Residential solar PV market
    • Residential solar PV market starts to recover following closure of FiT scheme
      • Figure 9: Residential photovoltaic installation capacity installed in the UK, 2017-22
    • Post subsidy market to be driven by solar-plus-storage systems and growing EV market
    • New finance options are required to boost post-subsidy domestic market
    • Development of Smart Export Guarantee (SEG) tariffs
    • Commercial (building-mounted) solar PV market
    • Commercial rooftop solar PV market is gaining traction
      • Figure 10: Building-mounted photovoltaic installation capacity installed in the UK (MCS and ROO-FIT accredited installations only), 2017-22
    • Temporary super-deduction tax savings provide a positive impetus for commercial solar PV uptake
    • Corporate PPA market continues to strengthen
    • Public Sector Decarbonisation Scheme boosts solar PV uptake in public sector buildings
    • Ground-mounted solar PV market
    • Subsidy-free, large-scale solar PV market takes off
    • Emergence of PPAs presents growth opportunities for ground-mounted solar PV installations
    • Strong public support for solar farms
    • Over 1,167 solar farms (over 1MW) operational as of July 2022
      • Figure 11: Ground-mounted and large-scale photovoltaic installation capacity installed in the UK (excludes subsidy-free installations), 2014-19
    • Community solar PV installations
    • Policy barriers continue to prevent the community solar PV sector from taking off
      • Figure 12: UK Community solar PV generation capacity 2016-21
  6. Regional Trends

    • Regional development
    • London mayor is targeting 1GW of solar deployment in the capital by 2030
      • Figure 13: Household penetration of photovoltaic installations in Great Britain, by region, 2015-19
      • Figure 14: Regional distribution of photovoltaic installations in Great Britain, by type and region, cumulative as of March 2019
  7. The European/World Context

      • Figure 15: World, Europe and UK cumulative photovoltaic installations, 2017-21
      • Figure 16: World development of photovoltaic installations, 2015-21
  8. Market Forecast

    • The five-year outlook for UK solar panels
      • Figure 17: Solar panels outlook, 2022-27
    • Government aims for five-fold increase in UK solar PV capacity by 2035
    • Outlook for UK solar panels market is bright
      • Figure 18: Forecast photovoltaic installed capacity in the UK, 2022-26
      • Figure 19: Forecast new photovoltaic capacity installed in the UK, 2022-26
    • Market drivers and assumptions
      • Figure 20: Key drivers affecting Mintel’s market forecast, 2015-26
    • Forecast methodology
  9. Market Trends

    • Battery storage and growing EV market set to drive residential rooftop PV deployment
    • Energy suppliers tap into residential solar and storage market
    • Large-scale battery storage market is seeing strong growth
    • Shift towards bifacial modules
    • Move from p-type to higher performing, higher efficiency n-type modules set to be the next major technology change
    • New build sector and local authorities offering strong growth opportunities
    • Growing interest in roof integrated PV systems in new build sector
    • Water utility sector offers opportunities for solar developers
    • Growth in EVs and Net Zero commitments are set to drive development of solar carports
  10. Government Policy and Legislative Environment

    • Future Homes Standard aims to make new homes “zero carbon ready” by 2025
    • Government commitment to reach Net Zero by 2050
    • Carbon budgets and Net Zero Strategy
    • UK to accelerate home-grown power to boost long-term energy independence
      • Figure 21: Low-carbon power generation capacity targets, 2022
    • Support mechanisms and policies to decarbonise electricity
    • Renewables Obligation
    • Feed-in Tariffs
    • Carbon Price Floor
    • Contracts for Difference
    • Capacity Market
  11. Market Drivers

    • New build sector offers huge growth potential for solar PV
      • Figure 22: New housebuilding market, 2016-26
    • Social housing sector offers strong growth opportunities
      • Figure 23: Residential dwelling stock in England, by tenure, 2016-21
    • Number of non-domestic properties
      • Figure 24: Number of non-domestic rateable properties in England & Wales, by sector and region, 2022 (000s and % of total)
      • Figure 25: Number of non-domestic rateable properties in England & Wales, by property type, 2022
    • Solar PV costs
      • Figure 26: small scale solar PV average cost, by size of installation, 2014-22
    • Large-scale solar PV is now the cheapest electricity generating technology
    • Electricity price surge reduces solar PV payback period
    • Electricity generation fuel mix shifts to renewables
      • Figure 27: Analysis of electricity generation the UK, by type of fuel used, 2017-21
      • Figure 28: Proportional importance of fuel source in UK electricity generation, 2017 and 2021
      • Figure 29: Renewable electricity generation in the UK, 2017-21
    • Energy storage to play a key role in the transition to a clean electricity supply system
    • The UK climate
  12. Industry Structure

    • Industry turnover
      • Figure 30: UK solar PV sector turnover, 2016-20
    • Labour and skills shortage presents key challenge for contracting industry
      • Figure 31: Employment and number of companies active across UK solar PV supply chain, 2014-20
    • Key industry players
    • Solar panels supply chain dominated by Chinese manufacturers
    • Solar PV installation industry remains highly fragmented
    • Installers are diversifying into other green tech sectors
    • Solar companies are looking for international expansion
  13. Company Profiles

    • Anesco
    • Financial performance and outlook
      • Figure 32: Financial analysis of Anesco, 2017-21
    • British Solar Renewables
    • BSR acquired by ICG Infra
    • Financial performance and outlook
      • Figure 33: Financial analysis of British Solar Renewables, 2017-21
    • EvoEnergy
    • Lightsource BP Renewable Energy Investment
    • Lightsource Labs – the company’s in-house digital innovations arm
    • Strategy
    • Financial performance
      • Figure 34: Financial analysis of Lightsource BP Renewable Energy Investment, 2017-20
    • Solarcentury Holdings (now part of Statkraft)
    • SolarCentury acquired by Statkraft
    • Company review and outlook
      • Figure 35: Financial analysis of Solarcentury Holdings, 2016-20
  14. Appendix – Data Sources, Abbreviations and Supporting Information

    • Abbreviations
    • Methodology
  15. Further Sources and Contacts

    • Trade associations
    • Trade magazines
    • Trade events

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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