Floatavoltaic: Floating Solar Panel Market Worth Over 2.5 GW By 2024

Industry Insights

“Key industry players in floating solar panels market include SPI Energy, Solaris Synergy, KYOCERA   CORPORATION,   Novaton  AG, Ciel & Terre International, Pristine Sun, Yingli Solar, Vikram Solar and Sunengy”

A recent research report “Floating Solar Panels Market” by Global Market Insights, Inc. says Floating Solar Panels Market size  is set to exceed 2.5 GW by 2024.

On grid floating solar panels market vol- ume could witness a significant growth of over 45% from 2016 to 2024. Development of large utility scale projects coupled with numerous financial incentives and tax ben- efits offered by the regulators will influence the global business size.

Measurers to reduce greenhouse gas emis- sions have seen a sincere effort from policy makers towards the adoption of sustain- able energy. Government of China  under its 13th five-year plan has set up a target to reduce the existing GHG emission level to 18% by 2020. Regulators of UK has also established numerous frameworks under the country’s climate change act 2008. The country is targeting to curb the GHG emis- sion level to 80% by 2050 from 1990 level. Availability of limited land space for the deployment of new PV systems will sig- nificantly drive the floating solar panels market share across the globe. Numerous countries have allowed the reservoir owner to collect rent and business tax from the plant operators. Feed in tariff schemes by several other countries will further enhance the industry landscape.

Tracking floating solar panels market size is predicted to exceed USD 250 million by 2024. Technological advancement coupled with declining solar component cost will positively influence the business growth.

U.S. floating solar panels market volume share is predicted to grow over 67 % by 2024. Federal government initiatives to encourage the deployment of clean energy technologies will further complement the industry outlook.

For Europe, UK floating solar panels mar- ket share was valued over 1.12 MW in 2015. Synchronization of Queen Elizabeth  II project over Walton-on-Thames has sig- nificantly driven the industry growth across the region.

China is predicted to reach over USD 140 million by 2024. Increasing investments towards the deployment of large scale PV projects will enhance the country’s busi- ness landscape. Japan floating solar panels market is anticipated to exceed over 400 MW by 2024. Accessibility with limited resources will significant drive the demand across the country. In 2016 Kyocera Corp  of Japan had successfully synchronized the world’s largest floatovoltaics power plant having capacity of 14.5 MW

Brazil floating solar panels market share is set to witness momentous growth of over 34% from 2016 to 2024. Government of Brazil is making significant investments to fully utilize the country’s vast river beds which in turn will drive the industry size.   In 2016 Brazil, has completed the grid syn- chronization of the region’s largest floata- voltaic plant of capacity 10 MW.



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