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Floating Solar Panels Market Revenue to Reach $2,301 8 Mn by 2026 Says P&S Intelligence

Share this article Share this article NEW YORK, Feb. 23, 2021 /PRNewswire/ Government efforts to curb the release of harmful gases into the atmosphere are expected to propel the global floating solar panels market to $2,301.8 million by 2026, from $685.2 million in 2019, according to the market research study published by P&S Intelligence. In countries around the world, stringent environmental regulations are in place and tax rebates and other financial incentives are being offered to promote clean energy. Though solar energy is one of the best alternatives to creating electricity from fossil fuels, the requirement for large areas for the installation of photovoltaic (PV) panels discourages many from adopting it.

P&S Intelligence: floating solar market set to grow

Advertisement Government efforts to curb the release of harmful gases into the atmosphere are expected to propel the global floating solar panels market to US$2301.8 million by 2026, from US$685.2 million in 2019, according to the market research study published by P&S Intelligence. In countries around the world, stringent environmental regulations are in place and tax rebates and other financial incentives are being offered to promote clean energy. Though solar energy is one of the best alternatives to creating electricity from fossil fuels, the requirement for large areas for the installation of photovoltaic (PV) panels discourages many from adopting it. This is proving beneficial for the floating solar panels market, as such PV plants are installed on waterbodies, including lakes, ponds, dam reservoirs, and seas. This leaves the land free for other purposes, such as agriculture or construction, which is why governments are now rapidly installing PV panels on water. For instance

Floating Solar Panels Market Size, Industry Trends, Leading Players, Market Share and Forecast 2020-2027 – Business

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 installatio

Floating Solar Panels Market Size, Industry Trends, Leading Players, Market Share and Forecast 2020-2027

Floating Solar Panels Market Size, Industry Trends, Leading Players, Market Share and Forecast 2020-2027
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