The increasing investments of the panel manufacturers and installers in developing a durable, stable, and reliable solar tracking technology.
As part of our mission to constantly evolve and find innovative energy solutions, we have invested in the ‘Floating Solar Panels' technology. Solar panels need to be affixed to a buoyant structure that keeps them above the surface. If you come across a Floating Solar Panels installation, it's most likely located in a lake or basin because the waters are generally calmer than the ocean. It's also common to install Floating Solar Panels structures on large, man-made bodies of water, such as reservoirs.
Advantages: No loss of valuable land space and Environmental benefits.
One of the major advantages of Floating Solar Panels on water is that it does not involve any cleaning cost as it is naturally cleaned by water in its surroundings. Higher efficiency than ground mounted solar systems - An average solar panel can convert between 16-20% of solar energy into electricity.
The largest floating solar farm in the world is being built in Singapore. The country has resorted to set up energy plants off the coasts and reservoirs across it. The implementation of floating panels in Japan is high, as the country is densely populated with low land availability for installation of solar energy plants. Furthermore, lack of natural resources coupled with high dependence of the country on renewable power generation for meeting its energy requirements is expected to propel industry growth. The installation of floating solar plants reduces the evaporation rate of water, which in turn aids in decrease the possibility of drought in regions with high temperatures such as central states of the U.S. However, high maintenance costs of stationary solar panels may significantly hamper the growth of floating solar panels industry in the coming years.
The increasing investments of the panel manufacturers and installers in developing a durable, stable, and reliable solar tracking technology with low maintenance cost is expected to trigger the demand over the forecast period for floating solar panels in Asia Pacific. North America and Europe, both are projected to grow at slow pace owing to saturation in demand in several end user industries.