Global floating solar to exceed 6GW by 2031

The sector is expected to grow by 15% annually until 2031.

The floating solar market globally is expected to surpass the six-gigawatt (GW) threshold by 2031 as demand for solar rises amidst deployment challenges faced by photovoltaics (PV) developers.

Ting Yu, consultant at Wood Mackenzie, said at the SNEC PV Power Expo that the solar industry experiences barriers in deploying solar farms due to limited land availability, and growing land costs for ground-mount solar projects.

This drives the demand for floating solar projects, Yu said.

In a statement, Wood Mackenzie said floating solar is expected to grow 15% annually in the next 10 years, with 15 countries projected to exceed 500 megawatts of the total installations by 2031.

“Despite development costs of FPVs ranging between 20-50% higher than comparable ground-mount projects, increased competitiveness in the developer and EPC landscape is helping to drive down costs in the sector,” Yu added.

Follow the link for more news on

Wood Mackenzie

APAC's renewable capacity

Also Read

Vena Energy’s 53 MW Kasama Solar Project starts operation

Adani Green’s operational capacity up 34% in H1

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit