The energy industry’s aggressive quest to develop clean energy technologies is driving the progress of floating solar panel manufacturing. Hailed as a resilient, productive and feasible technology, floating solar panels have opened new horizons for harnessing solar energy in many parts of the world. According to the IEA, solar energy is the cheapest source of electricity in the world, leading researchers to explore new ways to harness this energy. Photovoltaic technology has seen rapid progress in the recent past, contributing to the growth of the booming solar industry. In addition, the green energy sector has emphasized the need for rapid expansion of clean energy sources to resolve the paradox of rising energy demand and induced environmental degradation. by carbon.
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Due to the above-mentioned factors, it is safe to say that the global floating solar panel market could attract tremendous investments from key entities. Solar energy is widely used to power rural settlements and remote industries in developing countries. However, the heavy investments and large spaces required to mount solar panels pose a challenge to the feasible exploitation of solar energy. In this scenario, floating solar panels have emerged as an elixir of sustainability and continuous power generation in the field of solar energy.
Floating solar panels could generate greater power compared to ground or rooftop solar installations
The conceptualization of floating solar panels is considered a “eureka moment” in the history of green energy production. These panels quickly overcome the limitations of roof and mounted panels that upset the ecological balance by utilizing the space of forests and other terrestrial areas of ecological value. In addition, floating solar panels are 12.5% more efficient in terms of energy production than ground-mounted solar installations. Hence, it is safe to predict that the global floating solar panel market will grow at a dizzying rate in the coming times. Additionally, these solar panels limit evaporation and are expected to be a major contributor to saving freshwater supplies in the decades to come.
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Asia-Pacific is making groundbreaking progress in harnessing the potential of floating solar panels
India and China currently employ six of the world’s largest solar projects that harness the power of floating panels. This factor has created avenues for growth in the floating solar panel market in Asia Pacific. Additionally, innovations in solar power generation continue to create new opportunities for market growth and expansion. The countries of the subcontinent enjoy the riches of vast water resources while benefiting from adequate sunshine all year round. Countries like Norway and Sweden, located in the Scandinavian belt, are conceptualizing new models to exploit the potential of floating solar panels. By 2050, a significant share of the world’s electricity needs should be transferred to the emerging solar energy sector.
Some of the most promising names in the global floating solar panel market are First Solar, GCL-SI, Hanwha Q Cells, JA Solar, JinkoSolar, JS Solar, Kyocera, Mage Solar, LONGi Solar, MUST Solar, REC Solar, Panasonic and Increased energy.
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