In a groundbreaking report led by a World Bank team spearheaded by Surbhi Goyal, Senior Energy Specialist, India is urged to shift its focus beyond traditional land-based solar installations to embrace the untapped potential of Floating Solar Photovoltaics (FSPV). The comprehensive report, titled “Unlocking the Potential of Floating Solar Photovoltaics in India,” not only highlights the environmental benefits but also outlines the economic advantages and job creation potential associated with this innovative approach.
Floating solar photovoltaic plants, situated on underutilized surfaces of large water bodies, eliminate the need for diverting land from other essential uses. The report underscores the potential of FSPVs to catalyze job creation and foster the development of a robust domestic value chain, particularly for components like floaters that require proximity to installation sites.
The advantages of FSPVs extend beyond land-use efficiency. Due to their installation on water bodies, these solar plants generate more power than their ground-mounted counterparts, thanks to the cooling effect of water. Furthermore, FSPVs maximize the utilization of shared infrastructure such as transmission systems, offering a cost-effective and sustainable energy solution.
The report identifies key benefits of FSPVs, including the reduction of land acquisition and site preparation costs, improved system efficiency due to the temperature-regulating effect of water, enhanced solar PV performance with reduced shading effects, increased panel density for a given area, and cost savings when co-located with power plants. Additionally, the technology contributes to the reduction of water body maintenance costs by limiting algae growth and potentially decreasing water evaporation rates, thereby increasing water availability for purposes such as irrigation.
Developing countries, grappling with the challenges of climate change, are increasingly turning to renewable energy solutions to meet their climate and development objectives. FSPVs emerge as a transformative solution, especially for nations heavily reliant on costly energy imports, offering resilience against price volatility and energy security risks.
While renewable energy resources are abundant in many developing countries, challenges such as the availability of suitable land parcels and technical know-how often hinder their full development. The report argues that FSPVs present an ideal solution to overcome these impediments, emphasizing their ability to not only address land-energy conflicts but also contribute to the establishment of a thriving domestic value chain.
FSPV technology, as highlighted in the report, is rapidly maturing, benefiting from standardization, innovation, and cost reduction. The report comprises three volumes, with the main report providing a compelling case for FSPVs, a guidance document offering practical insights, and a volume dedicated to the potential of green jobs in this burgeoning sector.
As India charts its course towards a sustainable energy future, the adoption of Floating Solar Photovoltaics emerges as a strategic move, promising not only energy efficiency but also economic growth and environmental stewardship. The report serves as a crucial guide for policymakers, industry stakeholders, and investors, encouraging them to seize the transformative potential of FSPVs in reshaping India’s energy landscape.
