Advanced technology in solar panel development are expanding into a new market segment, floating solar panels. Floating solar panels open a new method to generate energy without the expensive real estate investment and can generate large amounts of power for residents and commercial properties. Several countries in the world do not have large areas of land needed to install solar panels. Utilizing lakes, ponds, rivers, reservoirs, and streams allow solar panels to charge in a large surface area without the need to purchase large land lots for solar panels.
Floating solar panels have numerous advantages including increased efficiency due to the cooling effect of water. The lower temperature from the water allows the solar panels to work more efficiency, and can produce more power from some land-mounted solar panels.
The global solar panel market continues to grow and is projected to reach $2.7 billion by 2025 according to a recent study by Grand View Research. The industry may grow even faster due to the demand for renewable energy without real estate investment. Currently the UK, China, Japan, and Brazil are the countries deploying floating solar panels. Japan is leading the way in floating solar panels as they have low land availability and limited natural resources.
Increased government initiatives are leading the solar industry to generate power without the need for real estate investing for land-mounted models. As fossil fuels continue to deplete and global warming concerns continue to rise, solar is needed now and in the future.
Several governments across the world have initiated several projects and schemes to focus on renewable energy. Floating solar technology is one step closer to helping countries become dependent upon solar energy. To aid in the production of the panels, several countries are providing direct capital subsidies and tax benefits to manufacturers.
Latin America is expected to see the highest growth in floating solar panels. Europe’s largest floating solar panel array is being installed on the Queen Elizabeth II reservoir, which will include more than 23,000 solar panels, covering approximately 9% of the reservoir. Floating solar panels not only generate power, they decrease algae growth in stable water and aid in reducing water evaporation.
One thing is certain, the solar world is booming and Infinity Solar is on the frontlines providing California residents with solar panel installation and solar power storage. Call us today to learn more about solar panels in California.