Growth of the UK Solar Market - Recom Technologies UK
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22 Aug Growth of the UK Solar Market

Posted at 13:51h in Blogs by

According to recent data from the Microgeneration Certification Scheme, the beginning of 2023 to the end of March has shown the highest frequency of small-scale renewable installations of solar PV technologies since 2015. Solar PV installations in January to March have also increased by 114% from the same period in 2022. With the concerns of climate change growing, the UK has seen a surge in the use of solar energy as a renewable energy source with an average annual growth rate of 24% in the last decade.

Supportive Policies

A big contributor behind the growth of the UK solar market is the government’s newer supportive policies such as the Feed-in Tariff (FiT), which has encouraged businesses, homeowners, and investors to use solar power. This scheme requires licensed electricity suppliers participating to make payments on electricity generated and exported, by accredited installations. The aim is to make solar energy more attractive through financial incentives, reduced carbon emissions and payment for energy generated.

Reduction in Cost

Over the past 5 years, thanks to the growth of the solar industry in the UK there has been a reduction in cost of solar panel installations. With technological progress in the manufacturing of PV models, resulting in boosting of efficiency, reducing costs, and widening accessibility to consumers. Costs across the cycle of solar panels have declined, from the manufacturing process all the way through to installations, this has opened the market of solar to become a sustainable option for both house and commercial projects.

Public Interest of Sustainable Practises

The UK public’s increased environmental consciousness has led to a demand for more sustainable energy sources as well. As people’s awareness of climate change increases and more information on the benefits of using solar energy surfaces, more organisations and individuals are embracing the use of solar power. For example, brands such as Panasonic have made efforts to decrease employees travelling to work, in an attempt to keep their carbon footprint in check. Ikea is also a business that has taken steps to become 100% powered by renewable energy sources and have further committed to becoming climate positive by 2030 which is incredible.

Economic Opportunities

The growth of the UK solar market has also created a number of economic opportunities. The industry has created several jobs through areas in solar like manufacturing, installation, research, and development. The solar sector as a whole has played a huge part in the UK’s economy, promoting growth, and fostering innovation through a variety of industry specific techniques aligned with the expansion of solar energy

The UK solar market’s recent growth has been a fast moving one, driven by the government, technological advancements, and cost incentives. Solar energy has become a core component in the movement towards a more sustainable future. Bloomberg Intelligence has predicted that solar will remain as energy’s fastest growing segment, with the demand for solar predicted to rise by 40% this year. This is a win win for both the economy and environment, as the UK continues to embrace solar energy as a power source. Hopefully this movement towards a greener future will set a positive example that others will follow.v