UK solar panel market is estimated to grow considerably at a CAGR of around 15.4% during the forecast period. UK is among the largest economy in Europe, majorly owing to its trading power and financial businesses. According to The Solar Trade Association (STA), the installation of solar panels in the country has been tumbling in 2017. The STA reported that it was particularly concerned by a 65% drop in the number of large-scale solar schemes on hospitals, factories, and other large buildings, which may well, have been caused by the business rate increase. Between January and March, there were about 650 rooftop deployments a week - a fall of more than 75% on the long-term average of 2,700, a week since 2010.

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The introduction of the feed-in-tariff contributes to the rapid growth of the photovoltaic module industry, with many thousands of domestic installations along with numerous commercial, community and industrial projects. For instance, in 2019, UK Government commenced two projects that include Cleve Hill and Little Crow mega-scale projects. Solar power use has increased very rapidly in recent years due to a reduction in the cost of photovoltaic panels supported by government initiatives. In 2012, the government announced that four million homes across UK will be powered by the solar panels within eight years. UK government expects Britain to contribute to total power generation by 22 GW of installed solar power capacity by 2020.

The solar panel market is segmented on the basis of solar panel types and end-user. Based on solar panel technology, the market is segmented into monocrystalline silicon solar panel, polycrystalline silicon solar panel, thin-film solar panel, and others. Among these, the polycrystalline silicon solar panel contributes a significant share in the market, attributed to its advantages over other solar panels such as cost-effective and better efficiency. Based on end-user, the market is segmented into the household sector and the corporate sector. The corporate sector held a substantial share in the market in 2018. This is due to the high installation of solar panels in the corporate sector consisting of government projects and industrial general electricity applications.

The companies which are contributing to the growth of UK solar panel market include First Solar, Inc., Juwi Holding AG, SunPower Corp., Solarsense UK Ltd., and Joju Solar. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. 

Research Methodology

The market study of the UK solar panel market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, various services offered by the players, and market opportunity. The report will serve as a source for 360-degree analysis of the market delivering insights for making better business decisions.

Market Segmentation

1. UK Solar Panel Market Research and Analysis by Technology

2. UK Solar Panel Market Research and Analysis by End-User

The Report Covers

• Comprehensive research methodology of the UK solar panel market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the UK solar panel market.
• Insights about market determinants which are stimulating the UK solar panel market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.