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UK Solar Capacity Nears 16GW
The UK's solar capacity reached 15.9GW at the end of May, with additions over January-May 2024 totalling 190MW, down from 330MW added over the same period last year, according to UK’s Department of Energy, cited by PV magazine.
- The majority of the capacity installed over the first four months was small-scale PV - 4kW or less - at 84MW.
- 4kW-10kW installations amounted to 69MW, while 37MW of 10kW-50kW solar plants were connected to the grid. No PV plants over 50kW were installed.
- This is slightly different from last year when 98MW of PV plants of more than 50kW of capacity were connected, including 76MW of utility-scale projects of more than 25MW.
- Contract for Difference agreements are expected to increase the UK’s solar capacity, with almost 2GW of projects tendered in the 5th auction in September 2023.
- The 6th auction closed on 19 April 2024, with the results anticipated between June-September.
- The UK is targeting 70GW of solar by 2035.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.