Floating
Solar Panels Market Synopsis
Market Research Future (MRFR) in
its latest report reveals that the global floating solar panels market is set
to expand rapidly in the forthcoming years. Floating solar panels are
witnessing a strong commercial interest. Solar energy is an alternative solution
to rapidly depleting fossil fuel. Floating solar panel also referred to as
floating photovoltaic (FPV) is a well-organised array of solar panel on water
body on a lake or artificial basin.
With rapid depletion of fossil
fuels and other non-renewable energy sources, research has increased to develop
new techniques for harvesting energy from renewable sources. Photovoltaic
systems are being vastly utilized for harvesting solar energy with the help of
solar panels that are installed on large land areas. Recent technological
advancement has led to the development of floating solar panels that are
installed on the structure that floats on a water body, which does not occupy
much of the land area.
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The land base alternative in case
of floating solar panel reduces that cost and maintenance efforts that makes it
economical and beneficial renewable energy solution. The rapid depletion in
fossil fuel today is creating an extensive market for alternative renewable
energy resources in which the contribution of floating solar panel seems
outstanding in future.
Floating
Solar Panels Market Segmentation
Segmentation of the global floating
solar panel market is based on product, location and region.
Based on the product, the floating
solar panel market is segmented into the stationary floating solar panel and
tracking floating solar panel.
Based on location, the floating
solar panel market is segmented into onshore and offshore. The tax relaxation
offered by the government is driving the growth of the onshore floating solar
panel segment.
The offshore floating solar panel
is responsible for renewable decentralized distribution of energy. This, in
turn, is creating sustainable development in power generating systems. Hence an
advantage to global floating solar panel market growth.
Based on region Market Research
Future studied the floating solar panel market in North America, Europe, Asia Pacific
and rest of the world (ROW).
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Regional Analysis:
Geographically,
the global floating solar panels market has been segmented into four major
regions such as Asia Pacific, North America, Europe and the rest of the world.
Limited availability of land for building solar power plants and rapid
depletion of non-renewable energy sources such as fossil fuels are inducing
high demand for floating solar panels in the Asia Pacific region, leading to
the significant growth of the floating solar panels market in this region. High
penetration of advanced technology that is being utilized for harvesting energy
from renewable resources in order to meet the increasing energy demand is
fueling the growth of the floating solar panels market in the North America
region.
The
Prominent Companies
GEITS, Wuxi Suntech Power Co.,
Ltd., Yingli Solar, SPG Solar, Ciel & Terre, Kyocera Corporation, Japan
Mega Solar Power Co., Suntech Power Holdings Co., Ltd., Solaris Synergy, Trina
Solar Limited, and Sharp Corporation are the key companies operating in the
floating solar panel market.
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