Press release
Floating Solar Panels Market Forecasts By Major Players: SPI Energy, Solaris Synergy, KYOCERA CORPORATION, Novaton AG, Ciel & Terre International, Pristine Sun, Yingli Solar, Vikram Solar, Sunengy
Floating Solar Panels Market
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Measurers to reduce greenhouse gas emissions have seen a sincere effort from policy makers towards the adoption of sustainable energy. Government of China under its 13th five-year plan has set up a target to reduce the existing GHG emission level to 18% by 2020. Regulators of UK has also established numerous frameworks under the country’s climate change act 2008. The country is targeting to curb the GHG emission level to 80% by 2050 from 1990 level.
Limited availability of land for PV system deployment along with advancing solar technology will embellish the floating solar panels market share. Effective utilization of water resources coupled with ease of regulating panel temperature will further foster the industry outlook. In 2017, Hong Kong government appointed Black & Veatch to conduct a feasibility study for floating solar establishments across seventeen impounded reservoirs. Economic benefits including rent and business tax from plant operators to local reservoir owners along with Feed in tariff schemes will further complement the business landscape.
Availability of limited land space for the deployment of new PV systems will significantly drive the floating solar panels market share across the globe. Numerous countries have allowed the reservoir owner to collect rent and business tax from the plant operators. Feed in tariff schemes by several other countries will further enhance the industry landscape.
Growth Drivers:
• Increasing adoption of clean energy sources
• High land acquisition cost
• High capacity utilization factor
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U.S. floating solar panels Market is set to grow over 67% by 2024. Federal and state government initiatives towards renewable integration and stringent norms pertaining to carbon capture will augment the industry growth. Rising investments towards development of energy optimized technology along with micro-grid network expansion will further stimulate the business outlook.
For Europe, UK floating solar panels market was valued over 1 MW in 2015. In 2016, of UK Government introduced its floating solar project across Queen Elizabeth II reservoir. The project incorporates over 23,000 solar panels worth USD 7.8 million investment to electrify local water treatment plants and residential establishments. China floating solar panels market is anticipated to exceed USD 140 million by 2024.
China is predicted to reach over USD 140 million by 2024. Increasing investments towards the deployment of large scale PV projects will enhance the country’s business landscape. Japan floating solar panels market is anticipated to exceed over 400 MW by 2024. Accessibility with limited resources will significant drive the demand across the country. In 2016 Kyocera Corp of Japan had successfully synchronized the world’s largest floatovoltaics power plant having capacity of 14.5 MW.
Key industry player includes SPI Energy, Solaris Synergy, KYOCERA CORPORATION, Novaton AG, Ciel & Terre International, Pristine Sun, Yingli Solar, Vikram Solar and Sunengy
Browse key industry insights spread across 145 pages with 244 market data tables & 11 figures & charts from the report, Floating Solar Panels Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/floating-solar-panels-market
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