Global Floating Solar Panels Market Is Expected to Reach Us$ 1.58 Bn by 2022: Credence Research

According to a new market report published by Credence Research “Floating Solar Panels Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022,” the floating solar panels market was valued at US$ 0.16 Bn in 2016, and is expected to reach US$ 1.58 Bn by 2022, expanding at a CAGR of 113.9% from 2016 to 2022.

Browse the full Floating Solar Panels Market (Stationary Floating Solar Panels, Solar Tracker Floating Panels) for Off-Shore and On-Shore Locations- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022 report at http://www.credenceresearch.com/report/floating-solar-panels-market

Market Insights:

Photovoltaic panels are known to be eco-friendly source of energy based on power generation technology. However, as they provide us with huge benefits, they do have drawback as they occupy large land areas. Many countries worldwide do not have sufficient free-land areas therefore solar PV systems cannot be installed in those countries. This drawback was addressed by introducing floating solar panels to the market worldwide. These floating solar panels can be installed upon lakes, ponds, reservoir and rivers among other water bodies. These floating solar panels have many benefits over land-mounted solar panels which include evaporation control and increased efficiency. These floating solar panels work efficiently at low temperature and hence have increased efficiency due to cooling effect of water.

On the basis of product type, floating solar panels market is segmented into stationary floating solar panels and solar-tracking floating panels. Among these, stationary floating solar panels dominated the global floating solar panels market worldwide. These floating panels have number of advantages over solar tracking panels in the market. These panels make use of water surface for the process of installation of solar panels. Asia Pacific is the largest consumer of floating solar panels in the market. Solar...