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Floating Solar Panels Market Report Key Players: Solaris Synergy, Sunengy Pty Ltd, Vikram Solar, Ciel & Terre International, KYOCERA Corporation, Novaton AG, Pristine Sun LLC, SPI Energy Co. Ltd., Yingli Solar
Floating Solar Panels Market
Stationary floating solar panels market, which contributed more than 90% of the overall industry demand in 2015, is slated to witness an elevated growth in the years ahead. The product's cost-effectiveness along with its high demand across developing regions will lead to an elevated business growth graph.
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Floating solar panels are connected through on grid systems and off grid systems. On grid floating solar panels industry 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.
U.S. floating solar panel market value is projected to surpass USD 250 million by 2024, due to the beneficial government regulations promoting the use of renewable energy sources as well as clean energy technologies.
Limited land availability along with scarcity of natural resources will boost the demand for PV systems deployment, thereby stimulating Japan floating solar panel market growth over the coming seven years, having attained a revenue of USD 14 million in 2015.
Brazil floating solar panel market is anticipated to observe a substantial growth over the coming timeframe, driven by high investments in PV systems installations across the nation's large water bodies.
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UK floating solar panel market is slated to witness a high surge over the coming seven years, driven by implementation of strict legislations to restrict carbon emissions.
Substantial reduction in solar panel costs will escalate China floating solar panel industry size over the period of 2016-2024.
Market players are heavily investing in product development and R&D to obtain a competitive edge in terms of cost and reliability. Key industry participants include Kyocera Corporation, Solaris Synergy Limited, Pristine Sun LLC, SPI Energy Company Limited, Yingli Solar, Sunengy Private Limited, Novaton AG, Vikram Solar Private Limited, and Ciel & Terre International.
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