Solar power and battery energy storage systems (BESS) are set to supercharge the UK economy, with massive growth projections just revealed.
A new report by BiGGAR Economics, launched at Solar & Storage Live London, reveals that the solar and BESS sectors could nearly triple their annual economic contribution to £5.1 billion by 2035, this while supporting more than 40,000 jobs.
Already, there are about 20,000 people working in solar and storage in the UK, contributing £321 million to the public purse.
The report outlines big projections:
- Solar capacity could rise from today’s 20GW to 90GW by 2035, with major increases across homes, businesses, and solar farms.
- Battery energy storage systems (BESS) are forecast to reach 7.5GW today to over 50GW by 2035, supporting grid reliability and energy independence.
This growth means:
- £3.5 billion in Gross Value Added (GVA) from solar alone by 2035
- £1.6 billion from BESS
- A combined £698 million in tax revenue, thanks to expanded employment and business activity.
For rural communities, the solar boom brings even more impact, according to the report.
Farmers received an estimated £61 million in income from solar installations last year. By 2035, this could top £300 million, amounting to 7% of total farm income in England.
Solar and storage solutions are scalable, fast to deploy, and enjoy high public support.
They’re good for the planet – and clearly extremely beneficial to the economy.
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