Report Overview

United Kingdom Agrivoltaic Market - Industry Trends & Forecast Report, 2029

United Kingdom agrivoltaic market size was estimated to be worth USD 128.96 million in 2022. During the forecast period between 2023 and 2029, the United Kingdom agrivoltaic market size is projected to grow at a CAGR of 11.96% reaching a value of USD 283.83 million by 2029. The growing need for food production, decreased water use in agriculture, and higher efficiency of power production are all expected to contribute to the increased need to focus on recent climate change as well as humanity issues using agrivoltaics solutions. Due to the enhanced benefits of agrivoltaics, the aforementioned aspects are therefore anticipated to drive demand for the market over the projected time.

United Kingdom Agrivoltaic Market – Overview

The term "Agrovoltaic" or "Agrivoltaic" refers to the combined development of a single land area for solar photovoltaic energy and agriculture, enabling the cohabitation of two important industries. Agrivoltaic structures have panels set on cables or structures that are a few meters above the ground to give access to agricultural equipment. Based on a mathematical model that uses information from the sensors located on the land, the system may also change the angle of the panels to increase their effectiveness.

United Kingdom Agrivoltaic Market

Growth Drivers

Increasing Demand for Renewable Energy and Sustainable Agriculture Practices

According to the research findings, 40% of the UK's electricity last year was generated by solar, wind, biomass, and hydropower, which was up 5% from 2021. The United Kingdom is significantly investing in its renewable energy sector, and cutting its dependence on fossil fuels, and limiting its carbon footprint, which is anticipated to boost its investments in the solar energy sector including agrivoltaic due to the benefits it offers. According to research from the Fraunhofer Institute, the effectiveness of agrivoltaics may be increased by combining land uses by up to 186%. The most recent studies also demonstrate that photovoltaic power generation boosts the value of these farms by more than 30%.

Restraints

High Cost of Solar Panel System and Limited Compatibility to Certain Crops

Due to the solar panels greater above-ground elevation, mounting costs for the solar panel system are anticipated to be much higher. Furthermore, only a few crops can be grown using this method. This is due to the fact that the panels will lessen the quantity of light that reaches the Earth. The only crops that can be combined with panels are those that don't require a lot of light. These may act as a huge restraint for the United Kingdom agrivoltaic market.

Impact of COVID-19 on the United Kingdom Agrivoltaic Market

With millions of cases, the United Kingdom was among the countries that were most severely impacted by the COVID-19 pandemic. The pandemic, which led to the lockdown, had a detrimental effect on the expansion of the agrivoltaic business in the United Kingdom. During the lockdown, renewable energy initiatives were temporarily delayed in order to direct resources to the health sector. Additionally, the market expansion was constrained by the suspension of the supply chains, production, and importation of the cells and other components required to set up agrivoltaic systems.

United Kingdom Agrivoltaic Market

Segmental Coverage

United Kingdom Agrivoltaic Market – By Cell Type

Based on cell type, the United Kingdom agrivoltaic market is split into monocrystalline and polycrystalline segments. The monocrystalline cell type accounts for a higher market share. They are made of silicon solar cells in a single crystal. A bar of pure silicon is formed, and it is then divided into wafers with rounded, smooth edges. Solar panels made of monocrystalline material are more costly and more effective. As a result of the construction of a single cell, they are robust and produce a great amount of electricity.

United Kingdom Agrivoltaic Market – By Placement

Based on placement, the United Kingdom agrivoltaic market is segmented into elevated structures, greenhouses or shade nets, and ground. The elevated structures hold the highest market share. Photovoltaic (PV) panels in agrivoltaic solar parks are spread farther apart to let more sunlight reach the ground and placed higher in the air to allow for the cultivation of crops or even the rearing of small animals like lambs. Studies have revealed that when set up properly, this strategy may really provide compounding benefits including protecting plants from extremes in heat, cold, and UV damage, hence boosting the production of some crops.

United Kingdom Agrivoltaic Market – By Application

Based on application, the United Kingdom agrivoltaic market is segmented into electricity generation, crop production, and dual-use (electricity generation and crop production). Due to the growing emphasis on and investment in renewable energy sources as well as the increased need for solar energy to minimize carbon footprint, electricity generation makes up the largest portion of the UK agrivoltaic market. The crop production segment also covers a substantial market share owing to the rising demand for agricultural production as well as increasing concerns surrounding deforestation for creating farmlands.

Competitive Landscape

Major players operating in the United Kingdom Agrivoltaic market include Solarcentury Holdings Ltd, Lightsource BP, Eden Renewables, Solitude Solar Limited, Agrivert, Ecotricity, SolarTech Ltd, Sunstore Solar Ltd, Green Energy UK, and BNRG Renewables Ltd.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In December 2022 - Bluefield Renewable Developments, a part of the Bluefield Group that develops, builds, and operates solar farms, got planning permission for four projects with a capacity of about 200MW in the UK.

Scope of the Report

By Cell Type

• Monocrystalline

• Polycrystalline

By Placement

• Elevated Structures

• Greenhouses or Shade Nets

• Ground

By Application

• Electricity Generation

• Crop Production

• Dual-Use (Electricity Generation and Crop Production)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. United Kingdom Agrivoltaic Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Increasing demand for renewable energy and sustainable agriculture practices in the United Kingdom
         2. Government support and incentives for solar energy and sustainable agriculture
         3. Rising awareness among farmers and landowners about the benefits of Agrivoltaic systems
      2. Restraints
         1. Limited availability of suitable land for Agrivoltaic systems
      3. Opportunities
         1. Expansion of Agrivoltaic systems in the UK and other regions
         2. Integration of smart technologies, such as artificial intelligence and machine learning
      4. Challenges
         1.  Competition from traditional solar energy and agriculture systems
   3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. United Kingdom Agrivoltaic Market Overview
   1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
      2. Market Share and Forecast
      3. By Cell Type
         1. Monocrystalline
         2. Polycrystalline
      4. By Placement
         1. Elevated Structures
         2. Greenhouses or Shade Nets
         3. Ground
      5. By Application
         1. Electricity Generation
         2. Crop Production
         3. Dual-use (electricity generation and crop production)
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. United Kingdom Agrivoltaic Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Covid-19 on United Kingdom Agrivoltaic Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Solarcentury Holdings Ltd
   2. Lightsource BP
   3. Eden Renewables
   4. Solitude Solar Limited
   5. Agrivert
   6. Ecotricity
   7. SolarTech Ltd
   8. Sunstore Solar Ltd
   9. Green Energy UK
   10. BNRG Renewables Ltd
   11. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1.    Qualitative Research
      1.  Primary & Secondary Research
   2.    Quantitative Research
   3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
   4.    Breakdown of Primary Research Respondents, By Region
   5.    Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       United Kingdom Agrivoltaic Segmentation

Figure 2       United Kingdom Agrivoltaic Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       United Kingdom Agrivoltaic Market Size, By Value (USD Million), 2019–2029

Figure 5       United Kingdom Agrivoltaic Market Share, By Cell Type, By Value, 2019–2029

Figure 6       United Kingdom Agrivoltaic Market Share, By Placement, By Value, 2019–2029

Figure 7       United Kingdom Agrivoltaic Market Share, By Application, By Value, 2019–2029

List of Tables

Table 1        United Kingdom Agrivoltaic Market Size, By Value (USD Million), 2019–2029

Table 2        United Kingdom Agrivoltaic Market Size, By Cell Type, By Value, 2019–2029

Table 3        United Kingdom Agrivoltaic Market Size, By Placement, By Value, 2019–2029

Table 4        United Kingdom Agrivoltaic Market Size, By Application, By Value, 2019–2029

Table 5        Solarcentury Holdings Ltd Company Overview

Table 6        Solarcentury Holdings Ltd Financial Overview

Table 7        Lightsource BP Company Overview

Table 8        Lightsource BP Financial Overview

Table 9        Eden Renewables Company Overview

Table 10      Eden Renewables Financial Overview

Table 11      Solitude Solar Limited Company Overview

Table 12      Solitude Solar Limited Financial Overview

Table 13      Agrivert Company Overview

Table 14      Agrivert Financial Overview

Table 15      Ecotricity Company Overview

Table 16      Ecotricity Financial Overview

Table 17      SolarTech Ltd Company Overview

Table 18      SolarTech Ltd Financial Overview

Table 19      Sunstore Solar Ltd Company Overview

Table 20      Sunstore Solar Ltd Financial Overview

Table 21      Green Energy UK Company Overview

Table 22      Green Energy UK Financial Overview

Table 23      BNRG Renewables Ltd Company Overview

Table 24      BNRG Renewables Ltd Financial Overview