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

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Floating Solar Panel Market in U.S. to reach
250mn by 2024 Global Market Insights Inc.
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Industry Overview

• The global Floating Solar Panels Market share
  report provides numbers for applications and
  regional segments of the industry covering
  historical as well as forecast data for decision
  makers.
• Strict government measures for reducing carbon
  emissions along with promotion of renewable
  energy use is expected to push floating solar
  panel market size over the coming years. In
  addition to this, technological breakthroughs
  along with low solar component costs will further
  boost the industry trends significantly. Low land
  availability for PV systems installations is
  anticipated to further stimulate the industry
  outlook over the coming timeframe. In this
  regards, the countries are focusing on maximum
  utilization of the waterbodies to address the
  rising energy needs. For instance, Singapore is
  collaborating actively with private firms to
  effectively utilize its waterbodies for
  development of new floating solar panel products,
  addressing the requirement of over 6 million
  population base. The country had launched the
  worlds largest floating solar PV cell test-bed
  on October 25th, 2016.
• Stationary and Tracking are the major floating
  solar panel products. Stationary floating solar
  panels accounted for 90 of the overall floating
  solar panel market share in 2015, and is expected
  to witness lucrative gains over the coming years.

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• Below are the geographical trends influencing
  global floating solar panel market over
  2016-2024
• U.S. floating solar panel industry value is
  projected to surpass USD 250 million by 2024, due
  to the beneficial government regulations
  promoting the use of renewable energy sources as
  well as clean energy technologies.
• Limited land availability along with scarcity of
  natural resources will boost the demand for PV
  systems deployment, thereby stimulating Japan
  floating solar panel market growth over the
  coming seven years, having attained a revenue of
  USD 14 million in 2015.
• Brazil floating solar panel market is anticipated
  to observe a substantial growth over the coming
  timeframe, driven by high investments in PV
  systems installations across the nations large
  water bodies.
• UK floating solar panel industry is slated to
  witness a high surge over the coming seven years,
  driven by implementation of strict legislations
  to restrict carbon emissions.
• Substantial reduction in solar panel costs will
  escalate China floating solar panel industry size
  over the period of 2016-2024.

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• Floating solar panels are connected via off grid
  and on grid systems. On grid floating solar panel
  market share, which accounted for 75 of the
  overall revenue in 2015, is expected to grow
  notably over the coming timeframe. Rapid
  expansion of the utility projects along with tax
  concessions offered by government will favorably
  impact the business growth.
• Off grid floating solar panel industry is
  expected to witness a noteworthy expansion over
  the coming seven years. Implementation of
  distributed power generating systems across the
  emerging economies will influence the business.
• Market players are heavily investing in product
  development and RD to obtain a competitive edge
  in terms of cost and reliability. Key industry
  participants include Kyocera Corporation, Solaris
  Synergy Limited, Pristine Sun LLC, SPI Energy
  Company Limited, Yingli Solar, Sunengy Private
  Limited, Novaton AG, Vikram Solar Private
  Limited, and Ciel Terre International.

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

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