By 2024, the installed capacity of floating photovoltaic power stations will reach 4.13 GW globally.
Recently, Research And Markets released a report on the 2019 Global Floating Solar Energy Market. In 2017, the total installed capacity of floating photovoltaic power stations in the world was 675.38 MW. It is expected to reach 4,127.567 MW by 2024, while the compound annual growth rate between 2018 and 2024 is expected to be 30.7%.
According to the analysis, the increase appears due to the increasing importance of land and the cooling effect of water, which makes solar panels more efficient. In addition, some companies in the PV industry are increasing their R&D investments in floating solar products and markets and
floating solar systems. The various government supports are expected to increase market demand during the forecast period.
According to the report, stationary floating PV stations accounted for the largest share of the global floating solar market in 2017 by product type. This trend is likely to continue during the forecast period. The commercial sector had the largest share of the global floating solar market in 2017 based on applications. Based on capacity, small-scale projects are expected to have the fastest compound annual growth rate over the forecast period. By region, Asia-Pacific held the largest market share in 2017. It is expected to maintain the same position through 2024. In Europe, the Netherlands is likely to grow at the fastest compound annual rate in the period 2018 to 2024.
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Products Advantages of Floating Photovoltaic Systems
| Category |
Floating photovoltaic systems |
Conventional photovoltaic systems |
| Generating efficiency |
It has good cooling effect on photovoltaic modules, which is about 10% higher than the ground photovoltaic systems. It has obvious long-term advantages. |
General |
| Plant construction costs |
The initial investment is relatively
high (5%-8%). |
he initial investment is relatively low.
|
| Construction |
Less design civil engineering, and short
construction period |
More design civil engineering, and long
construction period |
| Maintenance |
Strong resistance to natural disasters. It is easy to
clean and maintain. |
The ability to resist natural
disasters is weak |
| Ecology |
Pollution-free. It can inhibit algae
growth and water evaporation. |
The construction process to the
ecological damage is great. |
| Occupied area |
200 mu /10MW |
300 mu /10MW |
| Site requirements |
Water use, and the water depth >1m |
High requirements for the site |