There is some disparity around the use of solar PV from the UK population, mainly due to misconceptions about the technology and its potential benefits. However, one thing is for certain, there is no better time to get involved in solar PV. This blog sets to put the record straight around the technology, and why it should excite you.

The Market:

The only way is up… at least when referring to solar. Solar PV is expected to reach 43 GW by 2028, ‘registering a CAGR (Compound Annual Growth Rate) of over 23.53%’ (UK SOLAR MARKET SIZE & SHARE ANALYSIS – GROWTH TRENDS & FORECASTS (2023 – 2028). This is great news for companies who are involved in solar PV, and will create a multitude of opportunities for both wholesalers and installers alike. The growth in the market is due to an increase in energy prices in the UK, which has forced customers to turn to alternatives. In addition to this, the government has also introduced a number of support for solar PV to help reach its ambitious target.

Fossil fuels are being labelled as (pardon the pun) things of the past, as solar panel prices reach an all time low, which has had a dramatic impact on the growth of renewable energy, and is another reason to be excited as an installer or businesses involved in the technology.

The Benefits:

Solar PV offers a variety of benefits, however the two most notable ones are in relation to the economy and environment. The installation of solar PV reduces the home owners energy bills, and provides an additional income by selling the energy back to the grid. In terms of its environmental implications, solar reduces carbon footprint, and does not produce any waste. These are just some of the many benefits of solar pv installation, and an additional reason on top of the market growth to seriously consider becoming an installer or expanding your current knowledge on the industry.

The above benefits, combined with the market forecast make for a lucrative opportunity for solar pv installers, as demonstrated by the deployment of solar pv in the UK. The number of installations stands at 1,205,624 as of June 2023 (National Statistics Solar Photovoltaics Deployment, 2023) which is 41,000 more than the earlier deployment report in March. This shows that interest is still high in soalr pv installation as an alternative energy source.

Dispelling the Common Myth: 

No, solar PV does not need direct sunlight to generate energy, which is a good job considering the climate. The technology works by converting light into energy and therefore does not require heat, making it perfect for the indecisive UK climate.

Get Involved: 

To view our extensive range of solar related courses click here and be part of the growth.

References: 

• UK SOLAR MARKET SIZE & SHARE ANALYSIS – GROWTH TRENDS & FORECASTS (2023 – 2028). (2023). Mordor Intelligence. Retrieved September 20, 2023, from https://www.mordorintelligence.com/industry-reports/united-kingdom-solar-power-market-industry
• National statistics Solar photovoltaics deployment. (2023, June). gov.uk. Retrieved October 3, 2023, from https://www.gov.uk/government/statistics/solar-photovoltaics-deployment

You can read more on this topic and view market forecasting by clicking here.