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Solar Panels - UK - September 2019

Company profiles

  • British Solar Renewables
  • EvoEnergy
  • Lightsource Renewable Energy Investment
  • Solar Century Holdings

“With all government support now removed, the UK solar PV market is moving into a post-subsidy phase. While market conditions will remain challenging in the short term, there is optimism for strong growth to return to the subsidy-free UK solar PV market, reflecting falling costs in solar technology, innovation in solar-plus-storage systems as well as the emergence of innovative finance and business models.”
– Claudia Preedy, B2B Analyst

This report looks at the following areas:

  • Energy storage systems and growing EV market to drive take-up of rooftop solar PV in post-subsidy world
  • Community solar PV schemes face considerable challenges but new opportunities are starting to emerge

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Table of contents

  1. Overview

    • What you need to know
      • Covered in this Report
      • Executive Summary

          • The market
            • Solar PV deployment drops by 69% to just 291MW in 2018
              • Figure 1: Photovoltaic installations in the UK, 2011-18
            • Subsidy-free, large-scale, ground-mounted solar PV market starting to take off
              • Residential rooftop market to be driven by solar-plus-storage systems
                • Solar PV deployment in commercial sector to be driven by PPA-backed projects
                  • Figure 2: Building-mounted photovoltaic installed capacity in the UK, by size, as of March 2019
                • Solar PV deployment expected to accelerate towards the end of the five-year forecast period
                  • Figure 3: Forecast new photovoltaic capacity installed in the UK, 2019-23
                • Companies and brands
                  • Abrupt government policy changes result in many companies exiting UK solar PV sector
                    • Installers are diversifying into energy storage, energy efficiency and EV charging
                      • What we think
                      • Issues and Insights

                        • Energy storage systems and growing EV market to drive take-up of rooftop solar PV in post-subsidy world
                          • The facts
                            • The implications
                              • Community solar PV schemes face considerable challenges but new opportunities are starting to emerge
                                • The facts
                                  • The implications
                                  • The Market – What You Need to Know

                                    • Solar PV deployment drops by 69% to just 291MW in 2018
                                      • Post-FiT residential rooftop market to be driven by solar-plus-storage systems
                                        • Solar PV deployment in commercial sector to be driven by PPA-backed projects
                                          • Subsidy-free, large-scale, ground-mounted solar PV market starting to take off
                                          • Market Size

                                            • Introduction
                                              • Over 13GW of solar PV installed in UK
                                                • Solar PV deployment drops by 69% to just 291MW in 2018
                                                  • Figure 4: Photovoltaic installations in the UK, 2013-19
                                                  • Figure 5: Photovoltaic installations in the UK, 2011-18
                                              • Market Segmentation

                                                • Overview
                                                    • Figure 6: Photovoltaic Installations in the UK, by capacity of installation, 2014-19
                                                  • Solar PV installations by accreditation scheme
                                                    • Figure 7: Photovoltaic installations in the UK, by accreditation scheme, 2014-19
                                                    • Figure 8: Photovoltaic installed capacity in the UK, by size, as of June 2019
                                                  • Residential solar PV market
                                                    • Slump in residential solar PV deployment
                                                      • Post-FiT market to be driven by solar-plus-storage systems
                                                        • New finance options to emerge in post-subsidy world
                                                          • Introduction of Smart Export Guarantee expected to lead to more competitive tariffs for residential customers with solar PV
                                                            • Figure 9: Residential photovoltaic installation capacity installed in the UK, 2014-19
                                                          • Building-mounted (commercial) solar PV market
                                                            • Figure 10: Building-mounted photovoltaic installation capacity installed in the UK, 2014-19
                                                            • Figure 11: Building-mounted photovoltaic installed capacity in the UK, by size, as of March 2019
                                                          • Companies continue to face barriers to deployment in commercial solar PV market
                                                            • Commercial rooftop market hit by sharp business rate hikes in April 2017
                                                              • Solar PV deployment in commercial sector to be driven by PPA-backed projects
                                                                • Ground-mounted solar PV market
                                                                  • Subsidy-free, large-scale solar PV market starting to take off
                                                                    • Emergence of PPAs presents growth opportunities for ground-mounted solar PV installations
                                                                      • 1,054 solar farms (over 1MW) operational as of June 2019
                                                                          • Figure 12: Ground-mounted and large-scale photovoltaic installation capacity installed in the UK, 2014-19
                                                                        • Community solar PV installations
                                                                          • Community solar projects face considerable challenges
                                                                            • New opportunities starting to emerge
                                                                                • Figure 13: Community solar PV generation capacity, 2011-18
                                                                            • Regional Trends

                                                                              • Regional development
                                                                                • London aims to boost solar PV deployment as part of the capital’s environment strategy
                                                                                  • Figure 14: Household penetration of photovoltaic installations in Great Britain, by region, 2015-19
                                                                                  • Figure 15: Regional distribution of photovoltaic installations in Great Britain, by type and region, cumulative as of March 2019
                                                                              • The European/World Context

                                                                                    • Figure 16: World, EU and UK cumulative photovoltaic installations, 2013-18
                                                                                    • Figure 17: World development of photovoltaic installations, 2012-18
                                                                                • Market Forecast

                                                                                  • Solar PV deployment expected to accelerate towards the end of the five-year review period
                                                                                      • Figure 18: Forecast photovoltaic installed capacity in the UK, 2019-23
                                                                                      • Figure 19: Forecast new photovoltaic capacity installed in the UK, 2019-23
                                                                                  • Market Trends

                                                                                    • Battery storage and growing EV market set to drive take-up of residential rooftop solar PV
                                                                                      • Large-scale battery storage market is taking off
                                                                                        • Solar companies are turning their attention to new build sector and local authorities
                                                                                          • BIPV market set to become more established
                                                                                            • Utility sector offers opportunities for solar firms
                                                                                              • Growth in EVs set to drive development of solar carports
                                                                                              • Government Policy and Legislative Environment

                                                                                                • Government commitment to reduce carbon emissions
                                                                                                  • UK makes good progress in reducing CO2 emissions to date, but on track to miss targets between 2023 and 2032
                                                                                                    • Policies to decarbonise electricity
                                                                                                      • Renewables Obligation
                                                                                                        • Contracts for Difference
                                                                                                          • Feed-in Tariffs
                                                                                                            • Drastic cuts to FiTs cause rooftop solar PV deployment to plummet
                                                                                                              • Capacity Market
                                                                                                              • Market Drivers

                                                                                                                • New housebuilding sector offers huge growth potential for solar PV companies
                                                                                                                  • Rented sector offers growth opportunities
                                                                                                                    • Figure 20: Residential dwelling stock in Great Britain, 2012-17
                                                                                                                  • Number of non-domestic properties
                                                                                                                      • Figure 21: Number of non-domestic rateable properties in England & Wales, by sector and region, as at 1 April, 2017 (000s and % of total)
                                                                                                                      • Figure 22: Number of non-domestic rateable properties in England & Wales, by property type, as at 31 March, 2015
                                                                                                                    • Solar PV witnesses remarkable fall in costs
                                                                                                                      • But closure of FiT scheme will increase payback period for residential rooftop solar systems
                                                                                                                        • EU scraps anti-dumping duty on China solar panels from September 2018
                                                                                                                          • Solar panels and battery systems face VAT hike from 5% to 20%
                                                                                                                            • BEIS and Ofgem unveil plans for major upgrade of the UK’s energy systems, including the removal of barriers to storage
                                                                                                                              • Government’s £246 million battery investment strategy
                                                                                                                                • UK energy mix and growth in renewable energy sector
                                                                                                                                    • Figure 23: Analysis of electricity generation the UK, by type of fuel used, 2014-18
                                                                                                                                    • Figure 24: Proportional importance of fuel source in UK electricity generation, 2014 and 2018
                                                                                                                                    • Figure 25: Renewable electricity generation in the UK, 2014-18
                                                                                                                                  • The UK climate
                                                                                                                                    • Other factors
                                                                                                                                    • Companies and Brands – What You Need to Know

                                                                                                                                      • BSR launches behind-the-meter energy storage solutions provider
                                                                                                                                        • BP invests in Lightsource to drive global solar expansion
                                                                                                                                          • Lightsource builds significant PPA-backed solar pipeline
                                                                                                                                            • Solarcentury focuses on international expansion but also sees near-term growth in UK post-subsidy market
                                                                                                                                            • Industry Structure

                                                                                                                                              • Abrupt government policy changes result in many companies exiting UK solar PV sector
                                                                                                                                                • Figure 26: Employment and number of companies active across UK solar PV supply chain, 2012-17
                                                                                                                                                • Figure 27: UK solar PV sector turnover, 2012-17
                                                                                                                                              • Key industry players
                                                                                                                                                • Installers are diversifying into energy storage, energy efficiency and EV charging
                                                                                                                                                  • Solar companies are looking for international expansion
                                                                                                                                                  • Company Profiles

                                                                                                                                                    • British Solar Renewables
                                                                                                                                                      • BSR launches behind-the-meter energy storage solutions provider in 2017
                                                                                                                                                        • Financial performance
                                                                                                                                                          • Figure 28: Financial analysis of British Solar Renewables, 2014-18
                                                                                                                                                        • EvoEnergy
                                                                                                                                                          • Financial performance
                                                                                                                                                            • Figure 29: Financial analysis of EvoEnergy, 2012-17
                                                                                                                                                          • Lightsource BP Renewable Energy Investment
                                                                                                                                                            • BP invests in Lightsource to drive global expansion
                                                                                                                                                              • Other recent partnerships
                                                                                                                                                                • Operational solar assets
                                                                                                                                                                  • Operations and maintenance
                                                                                                                                                                    • Construction assets and pipeline
                                                                                                                                                                      • Financial performance
                                                                                                                                                                        • Figure 30: Financial analysis of Lightsource BP Renewable Energy Investment, 2016-18
                                                                                                                                                                      • Solarcentury Holdings
                                                                                                                                                                        • IKEA/Solarcentury solar panels offering removed in the UK with the closure of the FiT scheme
                                                                                                                                                                          • Company review and outlook
                                                                                                                                                                            • Figure 31: Financial analysis of Solarcentury Holdings, 2015-19
                                                                                                                                                                        • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                                                                                            • Abbreviations
                                                                                                                                                                              • Methodology
                                                                                                                                                                              • Further Sources and Contacts

                                                                                                                                                                                • Trade associations
                                                                                                                                                                                  • Trade magazines
                                                                                                                                                                                    • Trade events

                                                                                                                                                                                    Solar Panels - UK - September 2019

                                                                                                                                                                                    £995.00 (Excl.Tax)