Jurisdiction(s):
United Kingdom

Key definition

Optimisation definition

What does Optimisation mean? In investment, pensions and fund-management practice, optimisation (often “portfolio optimisation”) describes the process of constructing a portfolio expected to deliver the best outcome for a specified level of risk, based on forecasts and estimated risks, and subject to legal, regulatory and mandate constraints. In practice this typically means maximising expected return for a chosen risk level, or minimising risk for a target return. This is not a term defined in legislation or case law; it is a descriptive expression used across investment management agreements, prospectuses, pension scheme statements of investment principles and regulatory disclosures. Key features include an explicit...

Solar photovoltaics in the UK: technology, components, siting, planning permission, costs, maintenance and market status

Published by a LexisNexis Energy expert

Practice notes

For additional practical guidance on solar projects, including perspectives from multiple jurisdictions, see the textbook Solar Power: A Practical Handbook.

What is solar PV?

Photovoltaic (PV) technology converts solar energy into electrical power. The term ‘photovoltaic’ is formed from:

photo, taken from the Greek for light, and
volt, the unit of electromotive force, linked to electricity pioneer Alessandro Volta

PV materials transform light energy into electrical energy, as demonstrated in 1839 by French physicist Edmond Becquerel, who showed that sunlight could generate an electric current within a solid. It was more than a further century before scientists established that the photoelectric, or photovoltaic, effect enables certain materials to convert light into electricity at the atomic scale.

PV technology components

Cells and modules

Typically, PV systems are made up of PV cells, usually comprising one or two layers of silicon or similar materials, connected in series to form modules. When sunlight strikes the cell, an electric field is created across the layers...

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Web page updated on 22/05/2026

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