The solar panel industry in Cambridge is shining brighter than ever. With significant growth expected in 2024-2025, both in market size and the number of installations, there's never been a better time to consider the switch to renewable energy.
Solar Panel Installers Cambridge
Key Takeaways
| Growth Statistics | Details |
|---|---|
| Market Growth in 2024 | 12%, reaching a value of £12.5 million |
| Increase in Installations | 15%, reaching 1,250 installations in 2024 |
| Average Cost of Installation | £6,500 (range of £5,000 to £8,000) |
| Expected Decrease in Installation Cost | 5% in 2024 |
| New Job Creations | 20 new jobs, total workforce of 50 installers and technicians |
| Average Salary for Installers | £35,000, experienced up to £45,000 |
Introduction
The solar panel industry in Cambridge is shining brighter than ever. With significant growth expected in 2024-2025, both in market size and the number of installations, there's never been a better time to consider the switch to renewable energy.
Market Overview
The solar panel installation market in Cambridge is set to grow by an impressive 12% in 2024, reaching a total value of £12.5 million. Additionally, the number of installations is projected to increase by 15%, reaching 1,250 installations.
Key Players
Three major players dominate the market: Green Energy Solutions (20%), SolarSave (15%), and EcoEnergy (10%). These companies are at the forefront of making Cambridge a leader in solar technology.
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Cost of Installation
The average cost of installing solar panels in Cambridge is currently £6,500, ranging from £5,000 to £8,000. However, due to technological advancements and economies of scale, the cost is expected to decrease by 5% in 2024.
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Government Incentives
The UK government's Feed-in Tariff (FIT) scheme is expected to close in March 2024, leaving 1,500 installations in the pipeline. However, the Smart Export Guarantee (SEG) scheme, which has replaced FIT, is expected to drive significant growth in the industry.
Technological Trends
Most solar panel installations in Cambridge are grid-connected, with a growing trend towards battery storage and smart home integration. The average size of installations is also expected to grow by 10%, reaching an average of 4.5 kW in 2024.
Workforce and Job Market
The solar panel installation industry in Cambridge is expected to create 20 new jobs in 2024, bringing the total workforce to 50 installers and technicians. The average salary for a solar panel installer is £35,000, with experienced installers earning up to £45,000.
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Conclusion
With the expected growth in market size, technological advancements, and government incentives, the future of solar panel installation in Cambridge is indeed bright. Considering these trends, now is the perfect time to invest in solar energy.
