The
global floating solar panels market has been projected to grow at a CAGR of over 30% market during the forecast period 2020-2027. The global floating solar panels market is projected to witness robust growth with increasing investment in renewable energy, growing concerns over the emission of greenhouse gases, and inclination of key fuel consuming economies to reduce dependency on fossil fuels. Growing investment in the installation of floating solar panels in land-scarce countries such as Japan, India, and China is projected to fuel the demand for floating solar panels in the Asia Pacific.
The global floating solar panels market is projected to witness high growth due to increasing concerns over the emission of greenhouse gases along with growing initiatives of various governments towards the clean energy anticipated to fuel the demand for floating solar panels over the forecast period. Tax benefits, subsidies, and rent aids offered by governments to encourage the installation of floating solar panels pumping the infrastructure projects of floating solar panels which in turn is fueling the demand for floating solar panels. Moreover, features such as low maintenance and management cost provide added advantage over the installation of solar panels on land.