Floating Solar Panels

Global Floating Solar Panels Market to Reach 9.9 Thousand MWs by 2030

The global market for Floating Solar Panels estimated at 3.6 Thousand MWs in the year 2024, is expected to reach 9.9 Thousand MWs by 2030, growing at a CAGR of 18.6% over the analysis period 2024-2030. Stationary, one of the segments analyzed in the report, is expected to record a 18.5% CAGR and reach 8.1 Thousand MWs by the end of the analysis period. Growth in the Tracking segment is estimated at 18.6% CAGR over the analysis period.

Global Floating Solar Panels Market - Key Trends & Drivers Summarized

Floating solar panels, also known as floating photovoltaic (FPV) systems, represent a cutting-edge innovation in renewable energy technology. These systems involve mounting solar panels on floating structures, typically installed on bodies of water such as reservoirs, lakes, and even the ocean. The concept of FPV systems offers several unique advantages over traditional land-based solar installations, including better energy efficiency due to the cooling effect of water, reduced land use conflicts, and minimized water evaporation from the surfaces they cover. By leveraging otherwise unused water surfaces, floating solar panels can generate substantial amounts of electricity without competing for valuable land resources. This makes them particularly attractive in densely populated regions and areas with limited available land for renewable energy projects.

The deployment of floating solar panels has been accelerating worldwide, driven by technological advancements and increasing environmental awareness. Countries with large water bodies and high solar insolation, such as Japan, China, and India, have been at the forefront of adopting FPV systems. Technological improvements have led to the development of robust and durable floating structures capable of withstanding harsh aquatic environments, including strong currents and waves. Moreover, innovations in panel design and materials have enhanced the efficiency and lifespan of FPV systems. Research and pilot projects have demonstrated that floating solar panels can achieve comparable or even higher performance than their land-based counterparts, primarily due to the cooling effects of water and the reduced presence of dust and debris.

The growth in the floating solar panel market is driven by several factors, including the rising demand for renewable energy and the need to optimize land use. As global efforts to combat climate change intensify, there is a growing push for renewable energy sources that can be deployed quickly and efficiently. Floating solar panels offer a viable solution by utilizing existing water bodies, thus avoiding the land-use challenges associated with traditional solar farms. Technological advancements have made FPV systems more cost-effective and resilient, encouraging broader adoption. Additionally, government policies and incentives aimed at promoting clean energy are playing a crucial role in the expansion of the FPV market. The increasing recognition of the ancillary benefits of floating solar panels, such as reduced water evaporation and improved water quality, further drives their adoption. As more countries and companies invest in floating solar technology, the market is expected to continue its rapid growth, contributing significantly to the global renewable energy landscape.

SCOPE OF STUDY:

The report analyzes the Floating Solar Panels market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Stationary, Tracking)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 43 Featured) -

• Kyocera Corporation
• Bharat Heavy Electricals Ltd.
• First Solar, Inc.
• Jain Irrigation Systems Ltd.
• NTPC Ltd.
• Tata Group
• JA Solar Technology Co., Ltd.
• Sungrow Power Supply Co., Ltd.
• Ciel & Terre International
• Jakson Group
• LONGi Solar Technology Co., Ltd.
• GCL System Integration Technology Company Ltd.
• LA Solar Group
• Glint Solar
• Conrexx Technology

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.