For more information on the Strategic Framework and Technology Focus Areas, please click on the links below
Solar technologies have the potential to deliver low carbon energy in a wide range of centralised and decentralised settings. Solar technologies can deliver both power and heat, but power applications dominate the opportunities for the UK. Innovation could significantly reduce the cost of solar technologies, reducing UK deployment costs to 20501 by £14.5bn (£9.0 – 24.4bn) for solar power and £0.2bn (£0.04 – 2.40bn2) for solar thermal3 technologies, although the majority of this innovation is likely to occur outside the UK. Similarly the vast majority of the value creation from solar technologies is likely to occur in other countries, but innovation in certain valuable sub-sectors would help create UK-based business opportunities that could contribute £16.7bn (£11.9 – 27.4bn) from solar power and £1.1bn (£0.6 – 4.1bn) from solar thermal technologies to 20502. In some areas market failures impeding innovation mean that public sector support will be required to unlock this value.
1 All sums to 2050 are cumulative (2015-2050) present discounted values for low-high scenarios.
2 The availability of reliable data on solar thermal deployment and costs is limited compared to solar PV which creates greater uncertainty for all the solar thermal numbers reported here.
3 This report only considers solar thermal technologies for water heating and not space heating.
This TINA was agreed by the LCICG in March 2016.