Global Floating PV Status and Potential, an international research paper published in Progress in Energy (PRGE) - a highly selective, high-impact and multidisciplinary journal dedicated to publishing groundbreaking new research – cites that by installing floating photovoltaic (FPV) on 10% of the area of 249,717 inland reservoirs, FPV capacity can touch 22 TW and can fulfill the whole global electricity consumption and up to 5% of the world’s water demand.The research team analyzed the global state of inland floating photovoltaic (FPV) installations with an aim to aid investment decisions in this growing sector. The study focuses on the use of technologies like solar trackers, varying tilt angles, and bifacial solar panels to enhance energy output.Led by Carlos D. Rodríguez-Gallegos, the research utilizes a comprehensive FPV global database from the Solar Energy Research Institute of Singapore (SERIS). This database included 1,142 inland commercial FPV systems recorded by 2022. The team also referred to a SERIS-maintained reservoir database, which tracks both natural and artificial water bodies, covering a total area of 2,220,623 km².Findings show that nearly 90% of the world's FPV capacity is located in Asia, with China leading the way, accounting for almost half of the cumulative installed capacity. Other East Asian countries, including Taiwan, Japan, and South Korea, have also been major contributors due to favorable feed-in tariffs, far-reaching renewable energy goals, and supportive regulations. Meanwhile, regions like India and Israel have been rapidly advancing since 2019 and are now among the top 10 FPV markets.The study also highlights significant growth in FPV installations over the past decade. Since 2013, the median size of FPV plants has increased from 0.09 MW to 1.40 MW in 2022, while the median power density rose from 82 W/m² to 123 W/m² during the same period. These trends highlight the scaling potential and efficiency improvements of FPV systems globally.Meanwhile, the TaiyangNews Floating PV 2024 Survey Report also highlights floating PV as a promising frontier in solar energy. The survey navigates the intricacies of FPV, covering different aspects of the technology all the way from the basics and key components to product-level description of the floats. The report finds that while there's tremendous potential for FPV systems, there are certain factors that need to be addressed to reap its huge potential (see Floating PV: A Promising Frontier In Solar Energy).
