UK Solar: Why Demand from the Residential PV Segment Will Be Severely Affected

The "UK Solar Power Market Outlook to 2025" report is out. In the last decade, solar power capacity has grown tremendously to become the fastest-growing source of renewable energy in the world. However, in 2019, around 109 GW of new solar PV capacity was added worldwide, about the same as in 2018.

Image by Giani Pralea from Pixabay

The rapid installations were primarily due to policy support and a sharp decline in technology costs and growing environmental concerns.

However, with the economic downturn induced by the outbreak of COVID-19, demand from the residential PV segment will be severely affected due to the financial uncertainty faced by the customers. Commercial and industrial installations are expected to be negatively affected as discretionary spending will be delayed, and preserving short-term cash flow will become a priority. Further, in the utility segment, supply chain disruptions and weaker investment will lead to delays in project commissioning.

According to the report, despite the slowdown expected in 2020 due to the coronavirus pandemic's challenges, the outlook for solar remains strong in the medium term, and the market is expected to expand during the forecast period as the cost of generation from solar PV is increasingly becoming cheaper than its alternatives.

Study Coverage

This report provides a comprehensive analysis on the historical development, the current state of solar power installation scenario, and its outlook. Most of the insights in the report are derived from our proprietary databases, and offerings. The insights include but are not limited to the market data, installation data and capacity additions data, policies and regulations, project data, company profiles, and competitive landscape analysis.

The report covers market dynamics, growth potential of the photovoltaic (PV) and concentrated solar power (CSP) markets, economic trends, and investment and financing scenario in the UK. Further, the report looks at the current state and assesses the potential of residential, non-residential, and utility-scale solar PV deployment.

Special attention is given to depicting the impact of the ongoing COVID-19 pandemic, national solar PV production/manufacturing scenario, and the country's imports and exports.

Key Topics Covered

1. Executive Summary

2. Research Scope and Methodology

3. Market Analysis

3.1 Introduction

3.2 Market Dynamics

3.2.1. Drivers

3.2.2 Restraints

3.3 Market Trends & Developments

3.4 Analysis of COVID-19 Impact

3.5 Market Opportunities

3.6 Key Projects

3.7 Government Policies and Regulations

4. Market Outlook

4.1 Annual Solar Power Installed Capacity, 2001-2025, in GW

4.2 Cumulative Solar Power Installed Capacity Forecast, 2001-2025, in GW

5. Business Activity Analysis

5.1 Supply Chain Analysis

5.2 PESTLE Analysis

6. Market Segmentation & Analysis

6.1 By Technology

6.1.1 Photovoltaic (PV)

6.1.2 Concentrated Solar Power (CSP)

6.2 PV Deployment by Segment

6.2.1 Residential

6.2.2 Non-Residential

6.2.3 Utility

7. Competitive Landscape

7.1 List of Notable Players in the Market

7.2 M&A, JVs, Partnerships and Agreements

7.3 Strategies of Key Players

8. Key Company Profiles

9. Conclusions and Recommendation

Companies Mentioned