Floating Solar Panels Market to grow at 45% CAGR from 2016 to 2024

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Floating Solar Panels Market to grow at 45 CAGR
from 2016 to 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Floating Solar Panels Market

• Floating Solar Panels Market size is set to
  exceed 2.5 GW by 2024, according to a new
  research report by Global Market Insights, Inc.
• On grid floating solar panels market volume could
  witness a significant growth of over 45 from
  2016 to 2024. Development of large utility scale
  projects coupled with numerous financial
  incentives and tax benefits offered by the
  regulators will influence the global business
  size.
• Measurers to reduce greenhouse gas emissions have
  seen a sincere effort from policy makers towards
  the adoption of sustainable energy. Government of
  China under its 13th five-year plan has set up a
  target to reduce the existing GHG emission level
  to 18 by 2020. Regulators of UK has also
  established numerous frameworks under the
  countrys climate change act 2008. The country is
  targeting to curb the GHG emission level to 80
  by 2050 from 1990 level.

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Continued...

• Availability of limited land space for the
  deployment of new PV systems will significantly
  drive the floating solar panels market share
  across the globe. Numerous countries have allowed
  the reservoir owner to collect rent and business
  tax from the plant operators. Feed in tariff
  schemes by several other countries will further
  enhance the industry landscape.
• Tracking floating solar panels market size is
  predicted to exceed USD 250 million by 2024.
  Technological advancement coupled with declining
  solar component cost will positively influence
  the business growth.
• U.S. floating solar panels market volume share is
  predicted to grow over 67 by 2024. Federal
  government initiatives to encourage the
  deployment of clean energy technologies will
  further complement the industry outlook.

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Global Floating Solar Panels Market, By Capacity,
2013 - 2024 (MW)

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Continued...

• For Europe, UK floating solar panels market share
  was valued over 1.12 MW in 2015. Synchronization
  of Queen Elizabeth II project over
  Walton-on-Thames has significantly driven the
  industry growth across the region.
• China is predicted to reach over USD 140 million
  by 2024. Increasing investments towards the
  deployment of large scale PV projects will
  enhance the countrys business landscape. Japan
  floating solar panels market is anticipated to
  exceed over 400 MW by 2024.
• Accessibility with limited resources will
  significant drive the demand across the country.
  In 2016 Kyocera Corp of Japan had successfully
  synchronized the worlds largest floatovoltaics
  power plant having capacity of 14.5 MW

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Continued...

• Brazil floating solar panels market share is set
  to witness momentous growth of over 34 from 2016
  to 2024.
• Government of Brazil is making significant
  investments to fully utilize the countrys vast
  river beds which in turn will drive the industry
  size.
• In 2016 Brazil, has completed the grid
  synchronization of the regions largest
  floatavoltaic plant of capacity 10 MW.
• Key industry player includes SPI Energy, Solaris
  Synergy, KYOCERA CORPORATION, Novaton AG, Ciel
  Terre International, Pristine Sun, Yingli Solar,
  Vikram Solar and Sunengy

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