According to the latest data, the total installed capacity of energy storage in the UK is expected to reach 2.65 GW/3.98 GWh by 2023, making it the third largest energy storage market in Europe, after Germany and Italy. Overall, the UK solar market performed exceptionally well last year. Specific details of the installed capacity are as follows:
So is this solar market still good in 2024?
The answer is absolutely yes. Due to the close attention and active support of both the UK government and the private sector, the solar energy storage market in the UK is growing rapidly and showing several key trends.
1. Government Support: The UK government actively promotes renewable energy and energy storage technologies, encouraging businesses and individuals to adopt solar solutions through subsidies, incentives and regulations.
2. Technological Advancements: The efficiency and cost of solar storage systems continue to improve, making them increasingly attractive and feasible.
3. Commercial Sector Growth: The use of solar energy storage systems in commercial and industrial sectors has increased significantly as they enhance energy efficiency, save costs, and provide resilience to market fluctuations.
4. Growth in the Residential Sector: More households are opting for solar photovoltaic panels and storage systems to reduce reliance on traditional power grids, lower energy bills, and minimize environmental impact.
5. Increased Investment and Market Competition: The growing market attracts more investors while driving intense competition that fosters technological advances and service improvements.
In addition, the UK has significantly raised its short-term storage capacity targets and expects growth of over 80% by 2024, driven by large-scale energy storage initiatives. The specific objectives are as follows:
It is worth mentioning that the UK and Russia signed an energy agreement worth £8 billion two weeks ago, which will completely transform the energy storage landscape in the UK.
Finally, we present some notable residential PV energy suppliers in the UK:
1. Tesla Energy
2. GivEnergy
3. Sunsynk
Post time: Apr-03-2024