Press release
UK Solar Energy Market to Reach USD 25,160.6 Million by 2033
Market Size in 2024: USD 9,003.5 Million
Market Forecast in 2033: USD 25,160.6 Million
Market Growth Rate (2025-2033): 12.1%
The UK solar energy market size reached USD 9,003.5 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 25,160.6 Million by 2033, exhibiting a growth rate (CAGR) of 12.1% during 2025-2033.
Rising Emphasis on Renewable Energy Transition
The UK government is focusing more on solar energy. This is part of its plan to reach net-zero emissions by 2050. Clean energy policies and financial incentives boost solar power for homes and businesses.
Technological Advancements in PV and CSP Systems
New solar PV modules, such as bifacial panels and thin-film technology, improve efficiency. They also lower installation costs. Concentrated solar power (CSP) is becoming popular for large utility projects. This growth is due to improvements in thermal energy storage.
Expanding On-Grid Applications and Energy Storage Integration
Solar systems are joining the national grid fast. This is helping the market grow. On-grid applications are benefiting from smart metering, feed-in tariffs, and net metering schemes. Battery storage systems are boosting solar power reliability for homes and businesses.
Growing Participation of Residential and Industrial Segments
The residential segment is seeing high demand. This is due to energy savings and more awareness of green energy. Industries are increasingly using solar energy to meet ESG goals. This shift helps ensure long-term energy security. It's especially important now due to rising fossil fuel prices and geopolitical uncertainties.
UK Solar Energy Market News
• May 2025 - Octopus Energy announced plans to invest £500 million in solar farms across the UK.
• February 2025 - UK Government unveiled a new Solar Taskforce aiming to increase solar capacity fivefold by 2035.
• November 2024 - EDF Energy completed a 100 MW solar project in Kent with integrated battery storage.
• August 2024 - British Solar Renewables launched a rooftop solar program targeting 1 million UK homes.
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UK Solar Energy Market Segmentation:
Technology Insights:
• Solar Photovoltaic (PV)
• Concentrated Solar Power (CSP)
Application Insights:
• On-grid
• Off-grid
End User Insights:
• Residential
• Commercial
• Industrial
Regional Insights:
• London
• South East
• North West
• East of England
• South West
• Scotland
• West Midlands
• Yorkshire and The Humber
• East Midlands
• Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Explore the Full Report with Charts, Table of Contents, and List of Figures:
https://www.imarcgroup.com/request?type=report&id=24125&flag=C
Key Highlights of the Report:
• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group
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Email: sales@imarcgroup.com
Tel No (D): +91-120-433-0800
United States:+1-201971-6302
About Us:
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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