Floating Solar Panels Market is expected to grow considerably in the years to come owing to the increasing emphasis on clean fuel electricity production sources along with limited availability of land for setting up photovoltaic systems. Floating solar panels is an array of solar panels that float on water body like a lake or artificial basin. This technology is the major reason for the growth of renewable energy. They require least land consumption for grid connections and electric cabinet. They can be easily managed with forthright decommissioning and construction. Since no fixed structures are required for the foundation, their installation is completely reversible.
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The key driving factors responsible for the growth of Floating Solar
Panels market :
The major driving factor to solar
technology is declining panel price to reduce per unit generation cost. This is
expected to positively affect simulation and analysis software market.
Furthermore, increasing research and development from the leading players,
government initiatives for the adoption of floating solar panels and
regulations for controlling greenhouse gas emissions are fueling the growth of
simulation and analysis software market. However, significant installation and
maintenance cost are obstructing the growth of simulation and analysis software
market.
Moreover, limited service
providers and scarcity of empty lands is expected to bring wide opportunities
in simulation and analysis software market. Increasing conversion efficacy of
solar photovoltaic systems. Floating solar panel market is categorized on the
basis of product type, technology, location, capacity, application and
geography. On the basis of product type, the market is divided into stationary
floating solar panels and tracking floating solar panels. Stationary floating
solar panels segment is expected to lead floating solar panels industry owing
to its efficiency and increasing adoption across several emerging economies.
Based on technology, floating
solar panels market is divided into concentrated solar power (CSP),
photovoltaic, and concentrator photovoltaics (CPV). Photovoltaic segment is
predicted to register high growth owing to several benefits like scalability,
one-time installation, no-pollution operation or green-house gas emissions and
easy fixation.
In terms of location, floating
solar panel industry is bifurcated as off-shore floating solar panels and
on-shore floating solar panels. On shore floating solar panels segment leads
floating solar panel market due to increasing applications. Based on capacity,
the industry is divided into large-scale, medium-scale and small-scale. Small
scale segment is expected to lead owing to the growing investments for the
progress of small scale projects.
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