The global floating solar panels market was valued at $2.95 billion in 2022 and is expected to reach $11.09 billion by 2031, growing at a compound annual growth rate (CAGR) of 19.5% between 2023 and 2031.
Floating Solar panel technology has been coming under the spotlight as a favourable and cost-effective alternative to land-based photovoltaic systems. It is a new method of using the water surface available on dams, reservoirs, and other water bodies for the generation of solar energy. Floating solar panels consist of panels that are installed on water bodies such as irrigation ponds,...
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