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Floating Solar Panels Market to hit US$ 84.90 million by 2032 | Major Market players - Ciel & Terre International, Trina Solar Limited, JA Solar Technology Co., Ltd
Floating Solar Panels Market
The Floating Solar Panels Market report by DataM Intelligence provides comprehensive insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. By combining qualitative and quantitative research methodologies, the firm delivers in-depth reports that help clients navigate complex market dynamics, drive strategic growth, and seize new opportunities in an ever-evolving global landscape.
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United States: Recent Developments
✅ In August 2025, National Renewable Energy Laboratory (NREL) advanced a multi-state floating solar pilot program to study performance and water conservation benefits. The initiative focuses on reservoirs in California, Arizona, and Texas, aiming to improve efficiency and reduce evaporation.
✅ In July 2025, New Jersey's largest floating solar farm was expanded to 9 MW capacity. Built on a wastewater treatment pond, the project offsets nearly all facility energy needs while reducing algae growth in the water body.
✅ In May 2025, Duke Energy announced a pilot floating solar installation in Florida. The project explores hybrid energy generation by pairing floating PV with onshore battery storage for grid stability.
Japan: Recent Developments
✅ In August 2025, Kyocera Corporation began operations of a new 13 MW floating solar plant in Chiba Prefecture. Built on a former quarry reservoir, the installation supplies clean energy to over 4,000 households.
✅ In June 2025, West Holdings Corporation launched Japan's first agrivoltaic-floating solar hybrid project. The system combines crop cultivation on land with floating solar on irrigation ponds, improving land-use efficiency.
✅ In April 2025, Tokyo Electric Power Company (TEPCO) initiated trials of floating solar panels with advanced anti-typhoon anchoring systems. The goal is to enhance resilience of offshore and reservoir-based PV against extreme weather.
Floating Solar Panels Market: Drivers
The floating solar panels market is driven by the rising global demand for renewable energy and the need to optimize water surface areas for power generation. With land scarcity and high land costs in urban regions, floating solar offers an efficient alternative to ground-mounted systems. These panels also reduce water evaporation, making them highly valuable for reservoirs and irrigation systems. Increasing government incentives and clean energy targets are boosting adoption. Additionally, advancements in floating structures and materials are reducing installation costs.
Growing investments in sustainable infrastructure and the integration of floating solar with hydropower plants are accelerating market expansion. The technology's ability to generate higher efficiency due to water cooling effects enhances its attractiveness. Countries with limited land resources, such as Japan, India, and Singapore, are investing heavily in large-scale projects. Rising concerns over climate change and carbon emissions further fuel adoption. Together, these factors position floating solar panels as a key solution in the global energy transition.
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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
Floating Solar Panels Market: Major Players
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.
Benefits of the Report:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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Regional Analysis:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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✅ Technology Roadmap Analysis
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✅ KOL / Stakeholder Insights
✅ Consumer Behavior & Demand Analysis
✅ Import-Export Data Monitoring
✅ Live Market & Pricing Trends
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