Global Floating PV Market Is Expected To Grow Explosively-Part Two

Global Floating PV Market Is Expected To Grow Explosively-Part Two

It is also understood that the Vietnamese government has announced at present that it will hold two tenders for floating photovoltaic projects this and next year. It is expected to invite tenders for 50-100 MW projects by the end of this year, and another 300 MW project will be completed in 2021. Then, the floating solar racks will be greatly used.

Fitch pointed out that many countries around the world have given certain subsidies and incentives to floating photovoltaic projects at present. At the same time, there are also certain policy preferences for technology development, which is one of the main reasons for the rapid development of floating photovoltaic in Asian countries.

Energy transformation is indispensable.
In fact, floating PV is not a new thing. Related projects were first born in Japan in 2007, and then the world's first commercial floating photovoltaic project was put into use in the following year in United States. With the expansion of photovoltaic installation scale and the low cost of solar photovoltaic power, floating pv has attracted the attention of investors again.

The report said that in the case of increasingly scarce land resources, the use of undeveloped waters for renewable energy generation will be popular, so it is expected that floating solar pv will also play an important role in the process of global energy transformation.

Before that, DNV GL also pointed out in its "energy transformation outlook" that if countries in the world want to achieve the emission reduction target in 2050, the photovoltaic installed capacity should be increased by more than 10 times to reach 5 terawatts, among which the development of floating photovoltaic projects is indispensable.

Fitch's report analysis shows that the floating photovoltaic system can make better use of the water space and combine with the hydropower project, and the construction time of the power station is relatively short. In addition, the application of floating pv can also play a beneficial role in water itself. Whether it is a drinking water reservoir or a hydropower project, the combination of floating pv will reduce the evaporation intensity of water surface, and may even inhibit the generation of algae.

In the view of NREL researcher Nathan Lee, the construction of floating photovoltaic project in hydropower station reservoir has many advantages. It can not only use hydropower in rainy season, but also make full use of photovoltaic power generation in dry and rainy season. At the same time, pumped storage device may have application space in this system, which can be called "killing three birds with one stone".

However, some industry experts have warned that considering the immature floating photovoltaic market, relevant technical standards and long-term project risks are still to be confirmed. The analysis shows that the cost of floating photovoltaic project often varies with the project, which is closely related to the water depth, water quality and salinity of the water area where the project is located, as well as the wind intensity in the area.

In this regard, Nathan Lee also acknowledged that although the potential of floating pv is huge, it does not mean that all water bodies can be developed commercially. In the future, the environmental limitations of each water body and the overall performance of the power generation system still need to be considered.