Onshore Floating Solar Market is expected to register a CAGR of 40.8% during the forecast period.
The global onshore floating solar market is rising due to increased demand for renewable energy solutions and the optimization of land use for solar power generation in the forecast period 2024-2028.
According to
TechSci Research report, “Global Onshore Floating Solar Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”, The global onshore floating solar market
is experiencing significant growth, driven by the escalating demand for
sustainable and renewable energy solutions. As the world increasingly focuses
on reducing carbon emissions and transitioning towards cleaner energy sources,
onshore floating solar emerges as a viable and innovative option. This market's
rise can be attributed to its ability to optimize land use, making it particularly
attractive in regions where available land is limited. Onshore floating solar
installations offer advantages such as increased energy production efficiency,
reduced water evaporation, and minimized environmental impact. Additionally,
advancements in technology and cost reductions in solar photovoltaic systems
contribute to the market's expansion. Governments, businesses, and investors
are recognizing the potential of onshore floating solar as a crucial component
in achieving energy transition goals, fostering further development and
adoption of this sustainable energy solution on a global scale.
Browse over 26
market data Figures spread through 91 Pages and an in-depth TOC on
"Global Onshore Floating Solar Market”.
The global
onshore floating solar market is undergoing a significant transformation,
driven by a convergence of environmental imperatives, technological
advancements, and strategic energy diversification initiatives. Onshore
floating solar, a pioneering approach to harnessing solar energy by deploying
photovoltaic panels on water bodies, has emerged as a pivotal player in the
global renewable energy landscape. The market's growth is propelled by an
increasing awareness of the imperative to optimize land use for solar power generation.
Traditional solar installations often compete for limited terrestrial space,
particularly in densely populated areas. Onshore floating solar addresses this
challenge by utilizing underutilized water bodies, such as lakes, reservoirs,
and ponds, offering a dual solution that not only generates clean energy but
also frees up terrestrial space for other purposes.
The continuous
advancement of solar technology and the concurrent reduction in costs
constitute another driving force behind the market's ascent. Innovations in
floating platforms, robust anchoring systems, and enhanced solar panel
efficiency have significantly increased the feasibility and attractiveness of
onshore floating solar installations. This evolution is not only enhancing the
overall performance and durability of floating solar arrays but is also
contributing to achieving grid parity, making onshore floating solar a
competitive and financially feasible option in the broader renewable energy
landscape. Government policies and incentives are playing a pivotal role in
accelerating the global adoption of onshore floating solar. Recognizing the
importance of renewable energy in achieving energy security, reducing
dependence on fossil fuels, and meeting climate goals, governments worldwide
are offering subsidies, tax incentives, and favorable regulatory frameworks.
These measures encourage businesses and investors to actively participate in
onshore floating solar projects, fostering a conducive environment for
sustainable growth. Policymakers are increasingly incorporating onshore
floating solar into their broader renewable energy agendas, providing financial
support and regulatory backing to expedite project development.
A noteworthy
trend shaping the market is the integration of onshore floating solar
installations with energy storage systems. This strategic move addresses the
intermittent nature of solar power generation by storing excess energy during
peak production hours and releasing it during periods of low sunlight. Aligned
with broader energy transition goals, this trend enhances the reliability and
grid integration of onshore floating solar projects. Leveraging advancements in
battery technology, project developers are incorporating storage solutions to
optimize energy dispatch and ensure a consistent power supply, contributing to
the stability and resilience of the electricity grid. Furthermore, the
emergence of hybrid renewable energy projects marks a strategic approach to
diversifying the energy mix. Integrating onshore floating solar with other
sources such as wind or hydropower creates synergies that enhance overall
energy generation. For instance, combining onshore floating solar with
hydropower allows for shared infrastructure, maximizing the utilization of
water resources and land. This trend reflects a sophisticated strategy aimed at
creating more resilient and sustainable energy systems, embodying a
collaborative vision for a diversified and environmentally conscious energy
future.
In conclusion,
the global onshore floating solar market is navigating a transformative path
driven by the imperative to optimize land use, technological innovations,
supportive government policies, and strategic integration with other renewable
energy sources. As the market continues to evolve, it promises to play a
pivotal role in the global transition towards sustainable and resilient energy
solutions, contributing significantly to the diversification and
decarbonization of the energy landscape.
The Global Onshore
Floating Solar Market is segmented into Component, Type, Application, regional
distribution, and company.
Based on Component,
photovoltaic (PV) modules
segment emerged as the dominant force in the global onshore floating solar
market and is poised to maintain its supremacy throughout the forecast period.
PV modules, responsible for converting sunlight into electricity, constitute a
fundamental and indispensable component of onshore floating solar
installations. The dominance of this segment can be attributed to the continual
advancements in solar technology, leading to increased efficiency and
cost-effectiveness of PV modules. As the core energy-harvesting element, PV
modules play a pivotal role in determining the overall performance and economic
viability of onshore floating solar projects. Moreover, the global emphasis on
reducing the levelized cost of electricity (LCOE) for solar power has further
propelled the dominance of the PV modules segment. With ongoing research and
development efforts focused on enhancing the efficiency and durability of PV
modules, this component is expected to maintain its lead, driving the growth
and expansion of the onshore floating solar market as it continues to establish
itself as a key player in the renewable energy landscape.
Based on region,
Asia-Pacific region emerged
as the dominant force in the global onshore floating solar market and is
expected to maintain its leadership throughout the forecast period. The
dominance of the Asia-Pacific region can be attributed to the proactive
adoption of renewable energy solutions, favorable government policies, and a
surge in onshore floating solar installations across countries such as China,
India, and Japan. These nations, driven by a growing demand for clean energy
and a commitment to reducing carbon emissions, have witnessed substantial
investments in onshore floating solar projects. Additionally, the abundance of
water bodies, such as lakes and reservoirs, coupled with the region's
technological advancements in solar energy, has contributed to the widespread
deployment of onshore floating solar installations. The Asia-Pacific region's
dominance is further reinforced by the focus on energy security and sustainable
development, with governments actively promoting the integration of onshore
floating solar into their energy mix. As the global onshore floating solar
market continues to expand, the Asia-Pacific region is poised to maintain its
leadership position, driven by a combination of market-friendly policies,
technological expertise, and a robust commitment to transitioning towards
renewable energy sources.
Major companies
operating in Global Onshore Floating Solar Market are:
- Ciel
& Terre International
- Kyocera
Corporation
- Wärtsilä
Corporation
- Infratech
Industries
- Floating
Power Plant A/S
- Statkraft
- SPG
Solar
- Swimsol
GmbH
- Ocean
Sun AS
- Principle
Power, Inc.
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“The global
onshore floating solar market is experiencing a profound transformation fueled
by environmental imperatives, technological advancements, and strategic energy
diversification initiatives. This innovative approach to solar energy involves
deploying photovoltaic panels on water bodies, addressing land use optimization
challenges associated with traditional solar installations. Continuous
advancements in solar technology and cost reduction, including innovations in
floating platforms and anchoring systems, have enhanced the feasibility and
competitiveness of onshore floating solar. Government policies and incentives
worldwide further accelerate market adoption, fostering a conducive environment
for sustainable growth. An emerging trend involves integrating onshore floating
solar with energy storage systems, addressing intermittency challenges and
enhancing grid reliability. Additionally, the rise of hybrid renewable energy
projects, combining onshore floating solar with other sources like wind or hydropower,
signifies a strategic move toward a diversified, resilient, and environmentally
conscious energy future. In essence, the evolving onshore floating solar market
is poised to contribute significantly to global sustainability efforts by
reshaping the energy landscape.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Onshore Floating Solar
Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component (PV Modules, Lightning Protection System,
Anchoring System, Inverter, Others), By Type (Stationary, Tracking), By Application
(Irrigation, Hydroelectric Dam, Water Treatment, Quarry and Mining), By
Region, By Competition”, has evaluated the future growth potential of Global
Onshore Floating Solar Market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Onshore
Floating Solar Market.
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