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    UK Floating Solar Panels Market

    ID: MRFR/E&P/53703-HCR
    200 Pages
    Chitranshi Jaiswal
    October 2025

    UK Floating Solar Panels Market Research Report By Product (Stationary Floating Solar Panels, Tracking Floating Solar Panels) and By Location (Onshore, Offshore)-Forecast to 2035

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    UK Floating Solar Panels Market Infographic
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    UK Floating Solar Panels Market Summary

    The UK floating solar panels market is poised for substantial growth, with a projected valuation increase from 63 million USD in 2024 to 864 million USD by 2035.

    Key Market Trends & Highlights

    UK Floating Solar Panels Key Trends and Highlights

    • The market is expected to grow from 63 million USD in 2024 to 864 million USD by 2035.
    • A compound annual growth rate (CAGR) of 26.88 percent is anticipated from 2025 to 2035.
    • The increasing demand for renewable energy solutions is likely to drive market expansion.
    • Growing adoption of floating solar technology due to the need for sustainable energy sources is a major market driver.

    Market Size & Forecast

    2024 Market Size 63 (USD Million)
    2035 Market Size 864 (USD Million)
    CAGR (2025-2035) 26.88%

    Major Players

    First Solar, Lightsource bp, Solarpack, Canadian Solar, Duke Energy, SunPower, Trina Solar, JinkoSolar, Sungrow Power Supply, Floatility, Solarcentury, Actis, Ciel & Terre, Ecovision, Bluefield Solar

    UK Floating Solar Panels Market Trends

    By making advantage of underutilized areas, evaporation from water bodies is decreased and land usage is maximized. Additionally, as floating solar panel technology develops, it offers increased efficiency and reduced maintenance costs, which encourages adoption even more.

    Combining floating solar technology with energy storage options offers a compelling chance to balance supply and demand and increase the dependability of renewable energy.

    In an effort to scale up floating solar projects, technological innovators and utility firms have been working together more recently. Stakeholders can now invest in floating solar more easily thanks to initiatives centered on creative financing structures.

    Pilot projects that demonstrate the feasibility and advantages of floating solar technology have started to spring up all around the United Kingdom. The floating solar market is positioned to draw attention as a solution that fits in nicely with the UK's sustainability objectives as the country changes its energy framework.

    In light of the UK's goal of achieving net-zero emissions by 2050, this kind of green economy promotion is essential, which makes floating solar an alluring investment option.

    Market Segment Insights

    UK Floating Solar Panels Market Segment Insights

    UK Floating Solar Panels Market Segment Insights

    Floating Solar Panels Market Product Insights

    Floating Solar Panels Market Product Insights

    The UK Floating Solar Panels Market is experiencing notable growth, driven by an increasing shift toward renewable energy sources and sustainability initiatives. The Product segment of the market is primarily characterized by two significant categories: Stationary Floating Solar Panels and Tracking Floating Solar Panels.

    Stationary Floating Solar Panels, which remain fixed in location, offer a reliable solution for harnessing solar energy, benefiting from reduced water evaporation and algae growth on reservoirs. This type of panel often serves in locations where landscape use is limited, effectively utilizing water bodies without occupying valuable land space.

    Meanwhile, Tracking Floating Solar Panels provide an advanced approach by pivoting throughout the day to follow the sun's trajectory, thus maximizing energy absorption. This technology enhances efficiency and is gaining momentum due to its potential to generate more electricity compared to stationary options.

    The growing interest from the UK government in innovative solar technologies, alongside policies promoting renewable energy, presents a favorable environment for these Product segments. With an increasing focus on energy independence and carbon neutrality, stakeholders are eager to invest in solutions that align with the governmental goals of reducing greenhouse gas emissions.

    Floating Solar Panels Market Location Insights

    Floating Solar Panels Market Location Insights

    The UK Floating Solar Panels Market focuses on key locations for solar energy deployment, particularly emphasizing Onshore and Offshore implementations. The Onshore segment is gaining traction due to the increasing availability of land and the growing demand for sustainable energy solutions.

    This segment allows for integration into agricultural areas and water bodies, optimizing land usage while producing renewable energy. Conversely, the Offshore segment is emerging as a significant contributor due to the UK's extensive marine resources and favorable policy support for renewable energy initiatives.

    Offshore floating solar panels can harness solar energy without occupying valuable land and can coexist with maritime activities, thus offering a unique advantage. The dynamics between these two locations reflect broader trends in renewable energy development, with advancements in technology and decreasing installation costs driving adoption.

    Each location type plays a crucial role in addressing the UK's renewable energy targets, with potential for further market growth, bolstered by supportive government regulations and increasing public awareness about sustainable practices. The diversification in location strategies presents opportunities for innovation and growth in the UK Floating Solar Panels Market.

    Get more detailed insights about UK Floating Solar Panels Market Research Report-Forecast to 2035

    Key Players and Competitive Insights

    The UK Floating Solar Panels Market has gained substantial attention in recent years, driven by the need for sustainable energy solutions and the efficient utilization of water bodies for solar energy generation. This segment of the renewable energy market is characterized by innovative technology that allows solar arrays to be installed on bodies of water, reducing land use while providing significant energy output.

    The competitive landscape in the UK features several key players primarily focusing on enhancing product efficiency, advancing technology, and expanding their market reach. Companies are increasingly collaborating with local governments and organizations to maximize the effectiveness of floating solar installations, improving energy management and contributing to the UK's renewable energy targets.

    First Solar stands as a formidable player in the UK Floating Solar Panels Market, recognized for its expertise in manufacturing thin-film photovoltaic modules and providing clean energy solutions. The company has established a strong market presence due to its commitment to efficiency and sustainability, particularly with its state-of-the-art technology tailored to floating solar applications.

    First Solar’s strengths lie in its robust supply chain management, innovative research and development initiatives, and a focus on environmentally friendly practices.

    In the UK context, First Solar's ability to adapt its products to the floating solar sector ensures scalability and efficiency, establishing it as a trusted provider among renewable energy developers, municipalities, and investors who are increasingly prioritizing sustainability in energy generation.

    Lightsource bp has emerged as a significant force in the UK Floating Solar Panels Market, showcasing its capabilities through a diverse portfolio of renewable energy projects. The company specializes in developing, financing, and operating solar energy projects, including advanced floating solar solutions that enhance land utilization by leveraging water bodies for energy generation.

    Lightsource bp has cultivated a strong market presence in the UK, supported by its innovative approach and strategic partnerships aimed at enhancing sustainability. The company's strengths are reflected in its commitment to reducing carbon footprints and expanding renewable energy access across the region.

    Through various mergers and acquisitions, Lightsource bp seeks to strengthen its position and enhance its capabilities in solar technology, demonstrating an ongoing investment in the UK floating solar sector.

    Key offerings include advanced solar technology and integrated energy solutions that cater to both commercial and public sector clients, reinforcing its status as a leader in the evolving renewable energy landscape of the UK.

    Key Companies in the UK Floating Solar Panels Market market include

    Industry Developments

    In recent developments within the UK Floating Solar Panels Market, there has been increasing interest and investment from major companies such as First Solar, Canadian Solar, and JinkoSolar. The growth of this segment has been fueled by the UK's commitment to renewable energy and sustainable practices, driving significant momentum in floating solar technology.

    Notably, Lightsource bp secured contracts in July 2023 to expand its floating solar capacity, reflecting a shift towards innovative energy solutions. In terms of mergers and acquisitions, Solarpack completed the acquisition of a UK-based solar farm portfolio in August 2023, enhancing its footprint in the region.

    The market is experiencing substantial growth, with valuations and investments in floating solar technologies projected to escalate as more companies, including Trina Solar and Duke Energy, explore opportunities in this segment.

    Major events over the past few years include the launch of government initiatives in January 2023 aimed at promoting green energy and an increase in floating solar projects across water bodies, signaling a potential uptick in market demand and innovation. As a result, investments and collaborations among key players are expected to rise, further advancing the UK's position in the global floating solar market.

    Market Segmentation

    Outlook

    • Onshore
    • Offshore

    Report Scope

     

    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 50.38(USD Million)
    MARKET SIZE 2024 63.0(USD Million)
    MARKET SIZE 2035 864.0(USD Million)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 26.876% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Million
    KEY COMPANIES PROFILED First Solar, Lightsource bp, Solarpack, Canadian Solar, Duke Energy, SunPower, Trina Solar, JinkoSolar, Sungrow Power Supply, Floatility, Solarcentury, Actis, Ciel & Terre, Ecovision, Bluefield Solar
    SEGMENTS COVERED Product, Location
    KEY MARKET OPPORTUNITIES Increased water body utilization, Government incentives for clean energy, Rising demand for renewable energy, Technological advancements in solar efficiency, Partnerships with agricultural sectors
    KEY MARKET DYNAMICS growing renewable energy demand, government incentives and policies, technological advancements in solar efficiency, decreasing installation costs, environmental sustainability concerns
    COUNTRIES COVERED UK

    FAQs

    What is the expected market size of the UK Floating Solar Panels Market by 2024?

    The UK Floating Solar Panels Market is expected to be valued at 63.0 million USD by the year 2024.

    What is the anticipated market valuation for the UK Floating Solar Panels Market in 2035?

    By 2035, the market is anticipated to reach an estimated valuation of 864.0 million USD.

    What is the expected CAGR for the UK Floating Solar Panels Market from 2025 to 2035?

    The expected compound annual growth rate for the UK Floating Solar Panels Market from 2025 to 2035 is projected to be 26.876%.

    What are the projected market values for Stationary Floating Solar Panels in 2024 and 2035?

    Stationary Floating Solar Panels are valued at 24.5 million USD in 2024, with a projection of reaching 328.0 million USD by 2035.

    What are the projected market values for Tracking Floating Solar Panels in 2024 and 2035?

    Tracking Floating Solar Panels are valued at 38.5 million USD in 2024, with expectations to reach 536.0 million USD by 2035.

    Who are the major players in the UK Floating Solar Panels Market?

    Key players in the market include First Solar, Lightsource bp, Solarpack, Canadian Solar, and Duke Energy among others.

    What market share do Stationary Floating Solar Panels and Tracking Floating Solar Panels hold?

    As of 2025, both product segments are expected to contribute significantly to the overall market growth as highlighted in their projected valuations.

    What are the growth drivers for the UK Floating Solar Panels Market?

    The growth drivers include the increasing demand for renewable energy sources and technological advancements in solar panel systems.

    What opportunities and challenges are present in the UK Floating Solar Panels Market?

    Opportunities stem from rising environmental concerns, while challenges include regulatory hurdles and high initial investments.

    How is the current market responding to global trends and conflicts?

    The market is adapting to global trends favoring sustainable energy, potentially enhancing growth despite external conflicts impacting supply chains.

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