Shining a Light: Industry Insights into the UK Solar Sector
The solar sector is shining bright, although the UK may not be famous for bright sunlight. With the rise in climate awareness and inclination towards green energy, solar power has grabbed the attention and is changing the way people look at energy generation. The solar sector features climate friendliness and cost efficiency; the solar sector has proved to be a protagonist in a region that is popular for snow and drizzles. Let’s dive into the trends and Industry Insights into the UK Solar Sector and how this bright sector is changing the face of renewable energy in the UK.
Ready to uncover how this brilliant sector is illuminating the future of sustainable energy in the UK? Let’s dive into the trends and insights shaping the solar scene!
In the United Kingdom, electricity production in the Solar Energy market is expected to reach 14.43 billion kWh by 2025 as per data available on Statista.
The market is forecasted to grow at an annual rate of 1.97%, reflecting the Compound Annual Growth Rate (CAGR) from 2025 to 2029.
The latest data from the Microgeneration Certification Scheme (MCS) reveals that around 1.3 million households in the UK have adopted solar panel installations.
Out of the 29 million homes in the country, 4.1% are now generating electricity from solar panels.
According to the pv magazine article, the value of homes with solar panels can grow by almost 7.1%.
According to the data from the UK Customer Satisfaction Index (UKCSI), energy companies continue to be among the lowest-rated industries, scoring 69.8%in July 2024, compared to the all-sector average of 75.8%.
Wrap up!
With an increasing requirement for renewable energy sources, and the race to achieve sustainability goals, solar power is proving to be the foremost choice for a greener tomorrow. With its efficiency and low cost, it’s definitely going to be the first choice for the eco-conscious population. Indeed, the future is bright when powered by the sun, no matter if it drizzles or rains.
