United States Floating Solar Panels Industry is to reach USD 172.90 million by 2030 - Driven by Rising Water-Body Utilization, Land Scarcity Solutions, and Boost in Clean Energy Deployment | DataM Intelligence

Leander, Texas and TOKYO, Japan- The U.S. Floating Solar Panels Market size was approximately USD 61.49 million in 2025. It is expected to grow substantially at a compound annual growth rate (CAGR) of 23.0% from 2025 to 2030, reaching a projected market size of about USD 172.90 million by 2030.

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.

This growth is driven by increasing demand for renewable energy, government incentives, and the utilization of underutilized water bodies for solar panel installations in the U.S..

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Industry Latest News 2025:

✅ August 2025: Noria Energy started construction on a 50kW floating solar pilot project in Colorado using AquaPhi tracking technology, which increases energy output by 10-20%.

✅ August 2025: Third Pillar Solar secured exclusive rights to develop up to 500 MW of floating solar on water reservoirs in Texas with potential investments up to $700 million.

✅ August 2025: Small-scale floating solar projects in the U.S. are gaining traction due to their cost-effectiveness, dual role in power generation and water conservation, and potential to integrate with other renewable technologies

✅ April 2025: A National Renewable Energy Laboratory (NREL) study highlights the technical potential for floating solar on federally controlled reservoirs in the U.S. to generate up to 1,476 terawatt hours annually, enough to power approximately 100 million homes.

Recent Mergers & Acquisitions

September 2025: TotalEnergies sold a 50% stake in its North American solar portfolio to KKR for $950 million, retaining 50% ownership of a 1.4 GW portfolio.​

September 2025: TotalEnergies sold a 50% stake in a 270 MW French wind and solar portfolio to Eiffel Investment Group for $155 million.​

The Trump administration's energy policy changes led to consolidation efforts in U.S. solar and wind sectors, driving smaller firms to merge, form ventures, or sell assets.​

Clean energy deal activity increased with 63 transactions worth about $34 billion in H1 2025 in the U.S., showing a wave of M&A-driven consolidation.​

Private equity and utilities showed strong interest in acquiring undervalued clean energy assets in 2025, including solar projects.​

Noteworthy large deals outside floating solar but relevant to clean energy include Constellation Energy's $16.4 billion acquisition of Calpine Corporation.​

Q1 2025 recorded 19 solar corporate M&A deals, slightly fewer than the previous quarter, with project acquisition volume increasing to 13.6 GW.

Market Segmentation Analysis
The U.S. Floating Solar Panels Market segmentation by product type, location, and technology

By Product Type:

- Tracking Floating Solar Panels: These panels include tracking systems that follow the sun's movement to maximize energy capture, enhancing efficiency.

- Stationary Floating Solar Panels: Fixed position panels that are simpler and more commonly deployed due to lower cost and maintenance.

By Location:

- Onshore Water Bodies: Floating solar panels deployed on reservoirs, lakes, ponds, and other inland water bodies.

- Offshore Water Bodies: Panels installed on coastal or offshore water bodies, offering larger deployment opportunities but facing harsher environmental conditions.

By Technology:

- Photovoltaic (PV): The largest segment, converting sunlight directly into electricity using semiconductor cells. Most U.S. floating solar installations use PV technology due to efficiency and cost-effectiveness.

- Concentrated Solar Power (CSP): Uses mirrors or lenses to concentrate sunlight to generate thermal energy, less common in floating applications.

- Concentrator Photovoltaics (CPV): Uses optical components to concentrate sunlight onto high-efficiency solar cells, still emerging in floating solar.

- Others: Includes novel or hybrid solar technologies under development or limited deployment.

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TheU.S. Floating Solar Panels Market report would provide approximately

51 tables,
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185 Pages.

Growth Drivers:-

Increasing demand for renewable energy with land constraints.

Ability to install solar panels on water, preserving valuable land.

Higher energy efficiency due to cooling effects of water.

Government incentives and clean energy policies like Green New Deal.

Rising energy consumption and sustainability goals.

Expansion in utility-scale water body projects (reservoirs, lakes).

Technological advancements improving panel efficiency and durability.

Water conservation by reducing evaporation from water bodies.

Growing investments and private-public partnerships.

Opportunities in coastal offshore floating solar farms

Regional Insights:-

- California, Texas, and New York lead deployment due to water body availability and supportive policies.

- Onshore water bodies like reservoirs, lakes, and ponds dominate installations for cost-effectiveness and stability.

- Coastal states have emerging offshore floating solar projects with high growth potential.

- Southeast and Sun Belt regions benefit from abundant sunlight and growing renewable mandates.

- Industrial ponds and mining pits provide niche opportunities for floating solar installations.

- Increasing utility-scale projects in water-rich states drive market expansion.

- Private and public sector partnerships support regional growth and innovation in floating solar technology

Key Trends and Technological Advancements

Growth of hybrid floating solar and hydropower projects, optimizing energy generation and water resource management.

Development of more durable, UV-resistant, and recyclable floating structures to reduce environmental impact.

Innovations in advanced anchoring systems for deployment in deeper waters and fluctuating water levels.

Increasing adoption of bifacial solar panels in floating systems to capture reflected sunlight and boost yield.

Rising average project sizes, with many exceeding 100 MW.

Expansion of floating solar installations on reservoirs, lakes, ponds, and industrial water bodies to save land.

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Key Players:

First Solar, Hanwha QCELLS, Canadian Solar, T1 Energy, Illuminate USA, JinkoSolar US, Heliene US, Mission Solar, Silfab Solar, Bila Solar, Sungrow Power Supply, Ciel & Terre International, Trina Solar, JA Solar, SunPower, Ocean Sun, Swimsol, Adtech Systems, Waaree Energies, Pristine Sun, SPG Solar, Vikram Solar.

Key Highlights

First Solar: Leader in large-scale projects; deploying novel floating arrays like Nova Southeastern University's 700 kW floating solar system in Florida; focuses on durable, hurricane-resistant platforms and optimizing reservoirs.​

Hanwha QCELLS: Major U.S. manufacturer focused on high-efficiency PV technology; expanding floating solar partnerships and pilot programs with innovative module designs.

Canadian Solar: Emphasizes utility-scale floating solar solutions; involved in projects converting water reservoirs; integrates bifacial panel tech to boost yield.

T1 Energy: Developing customized floating solar systems adapted for diverse U.S. water bodies, including industrial and municipal reservoirs; strong in cleantech R&D.

Illuminate USA: Provides integrated floating solar solutions with smart monitoring; targets commercial and institutional customers; growing presence in water-scarce states.

JinkoSolar US: Supplies top-tier solar modules used in multiple U.S. floating solar projects; known for technological advancements in anti-reflective coatings and durability.

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