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Floating Solar Panels Market Analysis, Leading Players, Growth and Future Scope
The global floating solar panels market is expected to generate a revenue of $2,301.8 million in 2026 by P&S Intelligence.
By: P&S Intelligence
In many countries such as the U.K., the U.S., India, Australia, Brazil, France, and Japan, several initiatives are being launched for developing floating solar panels. For example, India announced in 2018 that it would develop 10 GW (Gigawatts) of floating solar capacity in the coming years. Due to these factors, the popularity of floating solar panels is rising, which is, in turn, driving the growth of the global floating solar panels market.
The value of the market is predicted to grow from $685.2 million in 2019 to $2,301.8 million by 2026. Depending on type, the floating solar panels market is divided into solar tracking and stationary panels. Between the two, the stationary category will demonstrate higher growth in the market in the forthcoming years. This will be because of the lower operational costs of these panels and the very low probability of these panels getting damaged because of current waves.
Globally, the floating solar panels market (https://www.psmarketresearch.com/
Hence, it is quite clear that the demand for floating solar panels will skyrocket all over the world in the coming years, mainly because of the lack of availability of large land areas for power generation and the implementation of favorable government regulations regarding the usage of renewable energy in many countries.