GLOBAL FLOATING SOLAR ENERGY TO REACH SIX-GIGAWATT THRESHOLD BY 2035

According to Wood Mackenzie the global floating solar market is expected to pass the six-gigawatt (GW) threshold by 2031, as PV developers struggle to meet growing solar demand and look to alternate development technologies.
15 countries are forecasted to exceed 500 megawatts (MW) of cumulative FPV installations by 2031, with Indonesia, India and China making up almost 70% of the total FPV demand in 2022.
The Asia-Pacific market had approximately 3GW of floating solar projects in 2022, capturing over 90% of floating solar demand that year. Countries such as China, Indonesia, India, South Korea, and Thailand are developing multiple floating solar projects, according to Wood Mackenzie analysis.
With almost 150MW, Europe is the second largest region for FPV demand, with the Netherlands in the lead followed by France.
(Source: Wood Mackenzie – Nearshore floating PV project in Singapore/Ocean Sun)