Solar – April – June 2024

Solar Power in the UK (April-June 2024)

While April-June 2024 hasn’t seen revolutionary changes in solar technology the weather has been duller than usual with a slight decline in production for many homes with the weather, but great news this should be changing next week, in other news non weather related there are some interesting details to unpack:

Solar Panel Advancements:

• Focus on Efficiency: The biggest trend lies in manufacturers continually refining existing technologies to squeeze out extra percentage points of efficiency from solar panels. This means your panels might generate a bit more power per square meter compared to previous models.
• Emerging Technologies: There’s ongoing research into next-generation solar cells, like perovskite solar cells. These hold promise for even higher efficiency, but widespread adoption is likely a few years down the line.
• Bifacial Panels Gain Traction: These panels capture sunlight from both sides, potentially increasing energy output, especially for south-facing roofs with clear airspace below. However, their cost-effectiveness compared to traditional panels needs further evaluation.
  RenewSolar offer bifacial panels which are not to indifferent to UK standard solar panel prices.

Energy Price Fluctuations:

The UK energy market has seen some volatility in 2024:

• Price Hike in Early 2024: The first quarter (January-March) brought a rise in electricity prices, making solar power a more attractive option for cost savings.
• Recent Price Dip: The price cap on electricity actually fell in April and is expected to dip further in July. This might make the immediate cost savings of solar seem less dramatic, but long-term energy independence remains a benefit.
• Potential Future Increase: Experts predict a possible price hike again in the later part of 2024, highlighting the potential advantage of generating your own power.
  

The Price Fluctuations:

• Early 2024 Price Hike: The price cap on electricity rose from £1,928 to £1,690 per year for a typical household paying by Direct Debit between April-June 2024. This translates to a roughly 12% increase.
• Recent Price Dip: The price cap drops again in July 2024, reaching £1,568 per year, a decrease of £122 compared to the April-June period.
• Price Rise Dates: These are usually around October/November through to March 2025

Overall Trend:

Despite the recent dip, the general trend in the UK energy market points towards rising prices. This reinforces the long-term financial benefits of solar panels for homeowners.

Current UK Solar Production:

While official figures for June 2024 production might not be readily available yet, we can look at trends:

• April 2024: According to industry reports, solar contributed around 6% of the UK’s electricity mix in April, consistent with previous Aprils.
• Spring Increase: Solar production typically increases in spring and summer due to longer daylight hours. This might suggest that June 2024 production could be higher than April.

Finding Production Data:

For the latest figures on UK solar production, you can explore resources like:

• National Grid ESO: They publish monthly and annual data on electricity generation by source (https://www.nationalgrideso.com/)
• Low Carbon Energy Investors Coalition (LCEIC): They provide reports and data on renewable energy deployment in the UK (https://ukcec.org/investing/)

Additional Resources:

For the latest information on solar panel advancements and government incentives, you can check out these resources:

• The Solar Energy Catapult https://sa.catapult.org.uk/projects/space-based-solar-power-enablers/
• The Department for Business, Energy and Industrial Strategy https://www.gov.uk/government/organisations/department-for-business-energy-and-industrial-strategy