Despite murmurings about a potential review of subsidies for solar farms, the United Kingdom is set to become Europe’s largest solar market this year.
Over 120 large-scale solar PV farms have recently received planning approval, and because of the speed at which solar farms can be constructed, many could be finished within a year, according to NPD Solarbuzz. In addition, over 400 large-scale ground-mounted solar PV farms are at various stages of planning.
The forecast for new solar capacity in the UK is 2.875 gigawatts for 2014. Constant European market leader Germany is expected to add about 2.6 gigawatts this year.
Apart from the obvious opportunities for solar component suppliers and solar project developers, a thriving secondary market is said to be developing for completed solar farms. The UK’s current solar farm asset portfolio is valued at around £2.5 billion. That is set to grow considerably.