Global Installed Capacity of FPV Will Reach 4.13GW by 2024

Recently, Research And Markets released the global floating solar energy market report in 2019. In 2017, the cumulative installed capacity of floating photovoltaic power stations around the world was 675.38 MW. It is estimated that the total installed capacity of floating pv power stations will reach 4127.567 MW by 2024. And it is eatiamted that the annual compound growth rate from 2018 to 2024 will reach 30.7%.
 

According to the analysis, the increase in this part of the data is mainly attributed to the increasing importance of land resources and the cooling effect of water to improve the efficiency of solar panels. In addition, some enterprises in the photovoltaic industry are increasing their investments in R&D of floating solar products and markets and various government support. It is estimated that the market demand will increase in the predicted period.

According to the report, in terms of product types, fixed floating photovoltaic power stations accounted for the largest share of the global floating solar market in 2017. And this trend is likely to continue during the predicted period. Depending on the application situation, the commercial sector has the largest share of the global floating solar energy market in 2017. Based on capacity, it is estimated that small-scale projects will have the fastest annual compound growth rate during the predicted period. By region, the asia-pacific region accounted for the largest market share in 2017 and it is estimated that it will remain the same position by 2024. In Europe, Netherlands is likely to grow at the fastest growth from 2018 to 2024.