Technological advancements have made solar energy highly affordable and accessible, which in turn is posing strong competition to oil and gas. The prices of solar energy have significantly reduced in the past few years and now consumers can attain higher return of investment. This progress is opening doors for private businesses, public utilities, and individuals to gain long-term benefits from solar options.
Going forward, floating PV (FPV) is gaining popularity as a strong third alternative after rooftop and ground mounted solar, as it allows standard solar panels to be installed on still water spaces in order to increment the utility of resources. FPV are combination of current hydropower dams and creates powerful energy generating hybrid systems and is providing traction to the renewable energy market, generating an alternative for peak loads demand, solving environmental issues, and providing economic benefits.
Number of Floating PV Worldwide Escalating
The demand for floating solar is gaining popularity across the globe. Present, there are over 100 MWp of floating solar power installed worldwide, a number which is projected to escalate to 5000 MWp by the end of this year, with Japan being the first country to adopt the solution owing to its desire to conserve precious water and land. The installation of FPV is quick, requires no heavy tools. FPV systems are cabled in similar way as ground mounted system, with the exception that the junction boxes are mounted on the floating arrays in order to connect to the on-shore inverters and uses either normal DC cable protected with waterproof conduit or a flexible marine DC cable.