Press release
Floating Solar Panels Market in Tracking Product segment to reach USD 250 million by 2024 | Top Players are Vikram Solar, KYOCERA Document Solutions America, Inc., Yingli Solar, Ciel & Terre International, Solaris Synergy, Pristine Sun LLC, SPI Energy
Floating Solar Panels Market
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Floating solar panels are connected through on grid systems and off grid systems. On grid floating solar panels marketis expected to grow at an annual rate of more than 45% during the period of 2016 to 2024. Various financial benefits such as tax concessions and feed -in- tariffs offered by the government will help in enlarging the industry size. Off grid floating solar panels market is expected to observe a notable development subject to the growing popularity of decentralized power generating systems in the emerging countries.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Vikram Solar
2. KYOCERA Document Solutions America, Inc.
3. Yingli Solar
4. Ciel & Terre International
5. Solaris Synergy
6. Pristine Sun LLC
7. SPI Energy
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.
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On-grid floating solar panels Market is anticipated to witness a grow over 45% by 2024. In 2017, Sungrow announced the establishment of its 40 MW grid connected aquaculture floating PV power project in China. Rising focus towards large scale utility projects along with government funded incentives and tax benefits will stimulate the industry growth.
Stringent government norms to reduce GHG emissions coupled with adoption of sustainable energy sources will augment the floating solar panels market growth. Government of Germany aims at curtailing GHG emissions by 40% until 2020 and about 95% by 2050 below 1990 levels. UK government declared its target to curb carbon emissions by 80% until 2050 below 1990 levels under the Climate Change Act 2008.
Floating solar panels are the best alternative to land intensive PV systems owing to their water conservation ability, high power generation capacity, and requirement of less time for deployment as compared to land intensive solar panel systems. This, in turn, will positively impact the business landscape. Strict legislations pertaining to release of carbon impurities in the environment will contribute significantly towards floating solar panels market development. In 2016, Chinese government had introduced a scheme to reduce carbon emission in the atmosphere to 18% by 2020.
Floating solar panels are connected through on grid systems and off grid systems. On grid floating solar panels market is expected to grow at an annual rate of more than 45% during the period of 2016 to 2024. Various financial benefits such as tax concessions and feed -in- tariffs offered by the government will help in enlarging the industry size. Off grid floating solar panels market is expected to observe a notable development subject to the growing popularity of decentralized power generating systems in the emerging countries.
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
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. Government measures towards sustainable resource integration coupled with increasing demand for electrification will complement the industry growth. China Energy Agency has declared an investment of USD 361 billion towards renewable technology by 2020.
Brazil floating solar panels market is predicted to generate more than 100 MW of electricity by 2024, owing to high government spending on large PV systems installations. In 2016, Brazil launched the initial phase of its 10MW floating solar panel farm.
Key industry player includes Solaris Synergy, SPI Energy, KYOCERA, Yingli Solar, Ciel & Terre International, Novaton AG, Pristine Sun, Sunenergy and Vikram Solar.
Browse Full Reports: https://www.gminsights.com/industry-analysis/floating-solar-panels-market
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