Floating Solar Panels Market Revenue to Reach $2,301.8 Mn by 2026 Says P&S Intelligence - Seite 2

The PV bifurcation has generated the higher revenue in the floating solar panels market till now, under segmentation by technology. This is ascribed to the proven ability of this technology to create substantial amounts of clean energy. Further, the concentrated solar power (CSP) technology for electricity production is not that well developed, which results in the higher deployment of the PV technology for this purpose.

Over the next few years, Asia-Pacific (APAC) is projected to continue being the largest floating solar panels market, owing to the increase in the government initiatives supporting this technology. Moreover, environmental regulations in the region are rather strict, and the demand for cheap power is also surging. Another factor which makes APAC the largest contributor to the industry is its limited land area, due to its high population density and urbanization rate, which creates a hindrance in the setting up of terrestrial solar plants.

To make the most of the opportunities being presented by the rapidly advancing floating solar panels market, companies offering PV panels and other components and services are either increasing their offerings or entering into partnerships.

Make enquiry before purchasing this report at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=floating-solar-panels-market

For instance, in August 2019, a memorandum of understanding (MoU) was signed between Pestech International Bhd and Sungrow Power Supply Co. Ltd., a Chinese firm, for developing floating solar plants, to cater to the rising energy demand in Southeast Asia.

Earlier, in May 2019, JA Solar Technology Co. Ltd. had deployed its high-efficiency half-cell mono PERC technology solar modules at a 450 kilowatt (kW) floating PV plant in South Korea. The Korean Standards Association (KS) had previously provided JA Solar Technology Co. Ltd. with the production certificate for the latter's 395 W half-cell mono PERC module in April.

The major companies functioning in the global floating solar panels market are JA Solar Technology Co. Ltd., Ciel Et Terre International, Ocean Sun AS, JinkoSolar Holding Co. Ltd., Sungrow Power Supply Co. Ltd., Quant Solar, Sharp Corporation, Topper Floating Solar PV Mounting Manufacturer Co. Ltd., Swimsol GmbH, Tata Power Solar Systems Ltd., and Trina Solar Limited.