PUBLISHER: The Business Research Company | PRODUCT CODE: 1966354
PUBLISHER: The Business Research Company | PRODUCT CODE: 1966354
Floating solar panels are solar power systems installed on floating structures on bodies of water such as lakes, reservoirs, and ponds. These panels convert sunlight into electrical energy while floating on the water's surface, offering a renewable energy source that also conserves land resources. Additionally, the cooling effect of the water can enhance the efficiency of the panels.
The main types of floating solar panels are stationary floating solar panels and tracking floating solar panels. Stationary floating solar panels are mounted on fixed platforms that do not move and are designed to capture sunlight and generate electricity from a stable position. The technologies used include photovoltaic (PV) and concentrated solar power (CSP). Floating solar panels can be situated either onshore or offshore, with applications in both utility-scale and residential settings.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs on solar panels, floating structures, and installation components have affected the floating solar panel market by increasing production and project costs. Regions such as Asia-Pacific, Europe, and North America, which import key components, are most impacted. While tariffs may temporarily slow new installations, they also encourage local manufacturing, investment in innovative materials, and cost optimization strategies, offering long-term benefits to the market.
The floating solar panel market research report is one of a series of new reports from The Business Research Company that provides floating solar panel market statistics, including floating solar panel industry global market size, regional shares, competitors with a floating solar panel market share, detailed floating solar panel market segments, market trends and opportunities, and any further data you may need to thrive in the floating solar panel industry. This floating solar panel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The floating solar panel market size has grown exponentially in recent years. It will grow from $4.79 billion in 2025 to $5.83 billion in 2026 at a compound annual growth rate (CAGR) of 21.7%. The growth in the historic period can be attributed to growing demand for renewable energy, limited land availability for solar farms, government incentives for solar power, advancements in solar panel efficiency, increasing energy storage adoption.
The floating solar panel market size is expected to see exponential growth in the next few years. It will grow to $12.74 billion in 2030 at a compound annual growth rate (CAGR) of 21.6%. The growth in the forecast period can be attributed to expansion of offshore floating solar projects, integration with energy storage systems, technological improvements in tracking systems, supportive renewable energy policies, increasing focus on sustainability and carbon reduction. Major trends in the forecast period include deployment of stationary floating solar panels, implementation of tracking floating solar panels, integration of photovoltaic and concentrated solar power technologies, offshore and onshore floating solar power installations, expansion of utility-scale and residential floating solar applications.
The growing preference for renewable energy sources is projected to drive the expansion of the floating solar panel market. This shift towards renewable energy is largely motivated by increased environmental awareness and the urgency to cut greenhouse gas emissions. Floating solar panels contribute to renewable energy generation by using water surfaces for solar installations, which enhances efficiency through cooling effects and preserves land resources. This makes floating solar panels particularly advantageous in regions with limited land availability. For example, the Department of Energy Security and Net Zero, a UK government agency, reported in June 2024 that renewable electricity generation reached 30.1 terawatt hours (TWh) in the third quarter of 2023, reflecting a 6.8% increase from the same period in 2022. Consequently, the growing focus on renewable energy is boosting the floating solar panel market.
Leading companies in the floating solar panel market are concentrating on developing advanced floating photovoltaic technology to improve energy efficiency, lower costs, and enhance durability. Floating photovoltaic technology involves placing solar panels on floating platforms or water bodies, which boosts efficiency by cooling the panels and reducing land use. This is particularly useful in areas where land is scarce. For instance, in November 2023, Masdar, a UAE-based renewable energy firm, teamed up with PLN, an Indonesian utility company, to inaugurate the 145-megawatt Cirata floating solar plant in Indonesia. This plant, the largest in Southeast Asia, is situated on a 250-hectare site in West Java. It is Masdar's first floating photovoltaic project and aims to supply power to 50,000 homes while reducing carbon dioxide emissions by 214,000 metric tons annually. Floating solar installations such as Cirata are especially advantageous for countries with limited land, offering enhanced efficiency through the cooling effects of water.
In January 2024, Glentra Capital P/S, a Denmark-based firm, acquired Third Pillar Solar Renewables for an undisclosed sum. This acquisition allows Glentra Capital to utilize Third Pillar Solar Renewables' expertise in developing floating solar projects on underused water bodies, thereby strengthening its renewable energy portfolio and promoting sustainable energy generation while reducing land usage and evaporation losses in water-scarce regions. Third Pillar Solar Renewables is a US-based developer and operator specializing in floating solar projects.
Major companies operating in the floating solar panel market are Ciel & Terre International, Sungrow Power Supply Co Ltd, Trina Solar Limited, JA Solar Technology Co Ltd, Hanwha Q CELLS, LONGi Green Energy Technology Co Ltd, JinkoSolar Holding Co Ltd, Kyocera Corporation, Sharp Corporation, Ocean Sun AS, Swimsol GmbH, BayWa r e renewable energy GmbH, REC Solar Holdings AS, Vikram Solar Limited, Pristine Sun LLC, SPG Solar Inc, Scotra Co Ltd, D3Energy Inc, Waaree Energies Ltd, Yellow Tropus Pvt Ltd.
North America was the largest region in the floating solar panel market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the floating solar panel market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the floating solar panel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The floating solar panel market consists of sales of floating platforms, solar panels, inverters, mooring systems, and anchoring solutions. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Floating Solar Panel Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses floating solar panel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for floating solar panel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The floating solar panel market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Added Benefits available all on all list-price licence purchases, to be claimed at time of purchase. Customisations within report scope and limited to 20% of content and consultant support time limited to 8 hours.