Floating Solar Panels Market to Witness Steady Expansion During 2021-2025

Posted by aartimurkute on December 16th, 2021

The aggressive quest of the energy sector to develop clean energy technologies is at the helm of advancements in floating solar panel manufacturing. Hailing as a resilient, productive, and feasible technology, floating solar panels have opened fresh horizons for exploitation of solar power across several parts of the world. According to IEA, solar power is the cheapest source of electricity across the globe, leading researchers to explore fresh new avenues for exploiting this energy. Photovoltaic technology has undergone rapid advancements in the recent past, thus, contributing to the growth of the booming solar industry. Furthermore, the green energy sector has emphasized on the need for rapid expansion of clean-energy sources in order to resolve the paradox of growing energy demands and carbon-induced environmental degradation.

Owing to the aforementioned factors, it is safe to assert that the global floating solar panels market could attract formidable investments from key entities. Solar energy is widely used to power rural settlements and remotely-established industries across developing countries. However, heavy investments and large spaces required to mount solar panels pose a challenge to feasible exploitation of solar energy. In this scenario, floating solar panels have emerged as an elixir for sustainability and continued energy generation in the domain of solar power.

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Floating Solar Panels Could Generate Greater Power as Compared to Ground-Mounted or Rooftop Solar-Power Installations

The conceptualization of floating solar panels is believed to be a ‘eureka moment’ in the history of green energy production. These panels are fast overcoming the limitations of rooftop and mounted panels that disturb the ecological balance by using up space from forests and other terrestrial areas of ecological value. Furthermore, floating solar panels are 12.5% more efficient in energy production as against ground-mounted solar installations. Therefore, it is safe to predict that the global floating solar panels market would grow at a stupendous pace in the times to follow. In addition to this, these solar panels limit evaporation, and are expected to be a major contributor towards saving fresh-water reserves in the decades to follow.

Asia Pacific is Making Ground-Breaking Progress in Exploiting the Potential of Floating Solar Panels

India and China currently employ six of the world’s largest solar projects that are exploiting the power of floating panels. This factor has created headways for growth across the floating solar panels market in Asia Pacific. Furthermore, innovations in solar power generation continue to create new opportunities for market growth and expansion. Countries in the subcontinent enjoy the bounties of ample water resources while experiencing adequate sunlight for the entire year. Countries such as Norway and Sweden, falling in the Scandinavian belt, are conceptualizing new models for exploiting the potential of floating solar panels. By 2050, a major chunk of the world’s electricity requirements is expectedly to be disburdened to the emerging solar energy sector.

Some of the most promising names in the global floating solar panels market are First Solar, GCL-SI, Hanwha Q Cells, JA Solar, JinkoSolar, JS Solar, Kyocera, Mage Solar, LONGi Solar, MUST Solar, REC Solar, Panasonic, and Risen Energy.

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