Global Floating Solar
Panels Market Overview:
Floating solar panels/
floating photovoltaic (FPV) refers to a solar energy generation system floating
on the top of water bodies such as oceans, lakes, or ponds. These systems are
more commonly installed on a lake, basin, or man-made water bodies as
reservoirs, as these waters are generally calmer than the oceans. Floating
solar is a relatively new technology that since its patented inception in 2008
has predominately been installed across the globe, especially in countries such
as Japan, China, and the UK.
When it comes to
large-scale solar projects, rooftop solar panel systems, ground mounts, or
solar canopies are the most sought after options. However, land scarcity is
inevitable when the dramatically-increasing population is spreading on
whatsoever the little space available on the Earth, where about 70 percent of
the surface is already covered with water. Here floating solar panels come to
aid, providing a newer alternative that’s making quite the splash in the solar
industry.
Floating solar panels
systems do not require valuable land space for installations, which is one of
their biggest advantages. Resultantly, their installations are multiplying, and
its market demonstrates a huge growth potential. According to Market Research
Future (MRFR), the Floating
Solar Panels Market is set to witness significant growth during the
forecast period (2017-2023). The market is poised to garner fabulous traction
over the next couple of years owing to solar panels’ mobility and flexibility
according to the sun’s position.
Floating solar panels can
provide a reliable electricity supply without requiring a large site and
compatibility with the water types. It is a mobile asset that can be relocated
or traded, and most importantly, it provides a secure power supply in the event
of earthquakes or floods. Additional factors substantiating the market growth
are augmenting demand for uninterrupted power supply and rising population,
world economy, urbanization, and industrialization.
Conversely, high
installation cost and lack of natural resources such as solar energy or water
bodies are two of the major factors obstructing the growth of the market. Also,
the complexity in the designing of the systems is impeding the growth of the
floating solar panels market.
Nevertheless, increasing
government initiatives promoting the uptake of renewable energy would support
the growth of the market. Besides, rising installations of these panels in
hydroelectric plants are likely to drive the growth of the market in the
upcoming years.
Global Floating Solar
Panels Market - Segmentation
The report segments the
market into three key dynamics to widen the scope of understanding,
By Product: Stationary
floating solar panels and Tracking floating solar panels
By Location: Onshore and
Offshore.
By Regions: Asia Pacific,
North America, Europe, and the Rest-of-the-World.
Global Floating Solar
Panels Market - Geographical Analysis
The Asia Pacific region
dominates the floating solar panels market, heading with the ample availability
of water bodies, including large oceans and rivers. Skyrocketing demand for the
energy, rapid depletion of non-renewable energy sources such as fossil fuels
and scarcity of land are driving the demand for floating solar panels in the
region.
Furthermore, government
initiatives to promote utilization of renewable energy, rapid growth in the
utility sector, and the presence of flourishing solar panel manufacturing units
are some of the other factors impacting the growth of the regional market.
The floating solar panels
market in North America is another lucrative market globally. Large advances in
technology related to harvesting energy from renewable resources to meet the
increasing energy demand are fueling the growth of the floating solar panels
market in the region.
The Europe floating solar
panels market is predominantly driven by the government emphasis on renewable
energy sources for energy generation and rising environmental awareness.
Get Full Report at: https://www.marketresearchfuture.com/reports/floating-solar-panels-market-6564
Major Players:
Players leading the
global floating solar panels market include Wuxi Suntech Power Co., Ltd.,
GEITS, Yingli Solar, Ciel & Terre, SPG Solar, Kyocera Corporation, Suntech
Power Holdings Co., Ltd., Japan Mega Solar Power Co., Solaris Synergy, Sharp
Corporation, and Trina Solar Limited, among others.
About Market Research Future:
At
Market Research Future (MRFR), we enable our customers to unravel the complexity
of various industries through our Cooked Research Report (CRR), Half-Cooked
Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research
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