Floating Photo voltaic Panels Market By Sort, Location, Expertise and Forecast Report, 2026 – LionLowdown
The floating solar panel market is divided into solar and stationary solar panels, with stationary bifurcation accounting for the larger market share in 2019. These solar modules are cheaper compared to their counterparts and also have less impact on water currents. In addition, the cost constraint for stationary floating solar panels is lower than for floating solar panels with solar tracking. Because of these advantages, the fork is expected to dominate the market in the forecast period as well.
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With the technology in mind, the market is divided into offshore and onshore categories, among which the onshore category accounted for the largest revenue share of the market in 2019. The category is expected to hold its position during the forecast period due to the fact that high tides and strong water currents in deep water can damage the solar panels and their floating structure. The maintenance and construction costs for onshore technology are still higher than for offshore technology.
The fact that no land acquisition is required for large areas of land is a major contributing factor to the floating solar panel market. As the population around the world increases, the availability of land decreases. The use of ground-based solar power plants requires large areas of land to generate large amounts of electricity. To meet this challenge, the adoption of floating solar panels has increased in a number of industries.
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Floating Solar Panels Market Size Breakdown by Segment
- Solar tracking
- Concentrated solar energy