Challenges and Opportunities in the Global Floating Solar Panels Market: Emerging Technology Amid Land Constraints and Green Energy Demand

Jakarta, INTI - The global market for floating solar panels is showing rapid growth, driven by the need for clean, eco-friendly energy sources. Amid the global climate crisis, many countries are shifting their focus from conventional energy sources to renewable energy. Floating solar panels are a fitting option for countries facing land limitations but wanting to contribute to reducing carbon emissions.

Challenges from the COVID-19 Pandemic

The renewable energy sector, including floating solar panels, faced production disruptions due to the COVID-19 pandemic. Factory closures and transportation restrictions in many countries led to project delays and decreased demand. However, since mid-2020, demand for floating solar panels has rebounded as many countries eased restrictions to improve their economic conditions.

Advancements in Floating Solar Technology

As technology evolves, floating solar panels are becoming increasingly attractive to investors. Leading companies in Europe, such as Hanwha SolarOne, Sharp Corporation, and Sun Power Corporation, continue to increase their research and development efforts to strengthen their market competitiveness. One of the latest innovations is floating solar panels with sun-tracking capabilities, allowing the panels to follow the sun’s direction automatically to maximize energy absorption.

Market Segmentation by Capacity and Connection Type

The floating solar panel market can be segmented based on capacity, including up to 1MW, 1MW-5MW, and above 5MW. The segment with capacities above 5MW is projected to dominate the market, as many large-scale projects have been initiated by both companies and governments worldwide. By connection type, the market is divided into on-grid and off-grid. On-grid connections are more common as they integrate easily with existing power grids, but off-grid connections are also attractive for remote areas not serviced by conventional power networks.

Global Competition and Focus on Green Energy

Leading companies in this sector, such as Canadian Solar Inc., Panasonic Electric Works Europe AG, and Trina Solar, are competing to meet the demand for renewable energy solutions. To maintain their market positions, these companies continue to innovate and improve the efficiency of their products through significant research and development investments. This competitive market is also supported by proactive government policies promoting green energy use as part of a global effort to mitigate climate change.

The Future of Floating Solar Energy

With increasing awareness of the environmental impact of fossil fuels, demand for clean energy, such as solar power, is expected to continue growing. Floating solar technology offers a sustainable solution that not only utilizes unused water surfaces but also provides a cooling effect on reservoirs, reducing water evaporation. These benefits make floating solar panels a sustainable and eco-friendly choice that is especially appealing to countries with limited land availability.