Floating solar panel market to be worth $2.7B in 2025
The global floating solar panels market is expected to grow from $13.8 million in 2015 to $2.7 billion by 2025, according to a new report from Grand View Research.
The technology, which carries photovoltaic solar panels at sea or in landlocked water basins, is expected to see significant growth over the next eight years due to the rising demand for reliable renewable power generation that does not use expensive real estate on terra firma.
The world's largest ongoing floating solar panel project on the Yamakura Dam reservoir in Japan, has a generating capacity of 13.7MW.
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