Floating Solar Panels Market to hit US$ 84.90 million by 2032 | Ciel & Terre International, Trina Solar Limited, JA Solar Technology Co., Ltd

"Global Floating Solar Panels Market size reached US$ 55.11 million in 2024 and is expected to reach US$ 84.90 million by 2032, growing with a CAGR of 5.55% during the forecast period 2025-2032." As per DataM intelligence research report

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United States: Recent Industry Developments

✅ In July 2025, NREL (National Renewable Energy Laboratory) unveiled results from its largest U.S. floating solar pilot in California.The project demonstrated 12% higher efficiency compared to ground-mounted systems due to natural cooling from water.Expansion plans include deployments in Arizona, Texas, and Florida by 2026.

✅ In June 2025, Ciel & Terre USA completed a 15 MW floating solar plant on a New Jersey reservoir.This installation will power municipal water treatment facilities and reduce annual CO2 emissions by 20,000 tons.It marks one of the largest municipal-owned floating solar projects in the country.

✅ In May 2025, Ameresco announced a $50 million investment in floating PV infrastructure across the Midwest.The initiative targets energy generation for industrial parks and water utilities.The first project, a 5 MW array in Illinois, will be operational by Q1 2026.

✅ In April 2025, AES Corporation launched its first hybrid floating solar & battery storage project in Texas.The plant integrates 10 MW floating PV with 5 MWh lithium-ion storage for peak demand management.This hybrid model is expected to be replicated across other U.S. states with high water resource availability.

Japan: Recent Industry Developments

✅ In July 2025, Kyocera TCL Solar inaugurated a 20 MW floating solar farm on the Yamakura Dam reservoir in Chiba Prefecture. The project will supply renewable energy to over 6,000 households annually. It is Japan's largest floating solar facility to date.

✅ In June 2025, Shizen Energy Inc. partnered with Ciel & Terre Japan for a regional floating PV program.The collaboration will install over 50 MW of floating solar across rural reservoirs in Kyushu and Shikoku by 2027.The initiative is aimed at maximizing unused water surfaces for green energy production.

✅ In May 2025, Osaka Gas Co. began construction on a 5 MW floating solar system at its industrial water treatment site.The plant is designed to offset the facility's entire daytime power consumption.Commercial operations are expected to start in late 2026.

✅ In April 2025, JERA Co., Inc. announced feasibility studies for offshore floating solar farms.The study will explore integration with offshore wind to create hybrid marine renewable energy hubs.Initial trials will begin off the coast of Nagasaki in 2026.

Floating Solar Panels Market: Drivers

The floating solar panels market is growing due to increasing global demand for renewable energy and the need to optimize available water surfaces for power generation. Limited land availability in densely populated regions encourages deployment of solar panels on reservoirs, lakes, and other water bodies. Floating solar systems help reduce water evaporation and algae growth, providing dual benefits of energy generation and water conservation. Technological advancements in floating platforms, anchoring systems, and panel durability are enhancing performance and lifespan. Governments and organizations are offering incentives and subsidies to promote renewable energy adoption, further boosting market growth.

The market is also driven by the growing focus on reducing carbon emissions and achieving sustainability targets worldwide. Floating solar installations can be combined with hydropower plants, enhancing grid stability and energy efficiency. Easy scalability and faster deployment compared to traditional ground-mounted solar farms make floating solar panels an attractive solution for utility-scale projects. Rising awareness of climate change and corporate sustainability initiatives is increasing investments in green energy solutions. Continuous innovation in materials, system design, and integration with smart energy grids is supporting long-term expansion of the floating solar panel market.

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Segment Covered in the Floating Solar Panels Market:

➥ By Product Type: Tracking Floating Solar Panels, Stationary Floating Solar Panels
➥ By Location: Onshore Water Bodies, Offshore Water Bodies
➥ By Technology: Photovoltaic, Concentrated Solar Power (CSP), Concentrator Photovoltaics (CPV), Others

Strategic Players Driving the Floating Solar Panels Market Forward:

Ciel & Terre International, Trina Solar Limited, JA Solar Technology Co., Ltd., Kyocera Corporation, Vikram Solar Limited, Hanwha Q CELLS Co., Ltd., LONGi Green Energy Technology Co., Ltd., Sharp Corporation, Suntech Power Holdings Co., Ltd., and First Solar, Inc.

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