Floating Solar Panels Market Growing At 26%+ CAGR To 2030 Driven By Renewable Energy Demand, Reports Mordor Intelligence

(MENAFN- PR Newswire)

HYDERABAD, India, Oct. 21, 2025 /PRNewswire/ -- According to the latest insights from Mordor Intelligence, the floating solar panels market size is projected to grow from USD 1.06 billion in 2025 to USD 3.39 billion by 2030. This growth is driven by limited land availability, increasing utility decarbonization targets, and enhanced energy efficiency from water-based cooling.

The Asia-Pacific region leads the market, using reservoir-hydro hybrid systems to expand renewable energy without needing additional land. Stationary platforms dominate due to their lower complexity, but marine-grade tracking systems are gaining traction due to their improved cost-benefit ratio.

Emerging Trends Influencing Industry Growth

Limited Land Availability & Utilization of Unused Water Surfaces

As land becomes increasingly scarce in densely populated regions, utilities are turning to water bodies for new renewable energy projects. This approach allows for faster project approvals since it avoids land-use conflicts, helping countries meet clean-energy targets without impacting agricultural or conserved lands.

Urbanized areas like Singapore, Japan, and parts of China have already used up available land, prompting regulators to ease restrictions on floating solar licenses. The potential of using water surfaces for solar energy is becoming a key solution for accelerating renewable energy deployment.

Improved Efficiency through Cooling and Reduced Evaporation

Floating solar panels benefit from continuous water contact, which helps keep temperatures lower than ground-mounted systems, boosting energy efficiency. The panels also provide the added benefit of shading reservoirs, significantly reducing water evaporation - an asset in water-scarce regions. This dual advantage of generating clean energy while conserving water helps strengthen financial models, particularly in arid areas, making floating solar a compelling option despite higher initial costs.

Shifting Focus to Water-Based Solar Solutions for Decarbonization

To meet carbon neutrality goals by the 2030s, utilities in Europe and North America are increasingly turning to floating solar arrays, bypassing lengthy land acquisition processes. In Spain, a 2024 policy facilitates the use of up to 15% of selected public reservoirs for solar projects, with quicker permitting procedures. This approach, paired with the potential to integrate solar installations with existing hydro infrastructure, accelerates project timelines. By offering stable tariffs tied to decarbonization efforts, this strategy reduces revenue risks and attracts institutional investments for large-scale floating solar initiatives.

Floating Solar Panels - Segmentation Analysis

By Product Type

• Stationary Systems
• Tracking Systems
• Hybrid Stationary-Tracking

By Technology

• Poly-crystalline
• Mono-crystalline
• Thin-film / Bifacial

By Capacity Segment

• Below 5 MW
• 5 to 50 MW
• Above 50 MW

By Installation Environment

• Reservoirs/Lakes
• Canals and Waterways
• Offshore/Near-shore

By Geography

North America

• United States
• Canada
• Mexico

Europe

• Germany
• United Kingdom
• France
• Italy
• NORDIC Countries
• Russia
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• ASEAN Countries
• Rest of Asia-Pacific

South America

• Brazil
• Argentina
• Rest of South America

Middle East and Africa

• Saudi Arabia
• United Arab Emirates
• South Africa
• Egypt
• Rest of Middle East and Africa

Regional Overview

Europe follows as the second-largest region, driven by clear regulatory frameworks. Germany's decision to lift surface area restrictions has unlocked new development opportunities, and Spain's streamlined permitting process has accelerated solar projects. In Italy and France, floating systems are being implemented in diverse environments, enhancing resilience and adaptability, making the region a strong contender in the floating solar market.

Floating Solar Panels Companies

• Ciel & Terre International
• JA Solar
• Yellow Tropus
• D3Energy
• SolarDuck
• Sungrow FPV
• Kyocera
• Vikram Solar
• Bee Solar
• Swimsol
• Trina Solar
• Ocean Sun
• SolarisFloat
• Huasun
• Waaree Energies

For a full breakdown of floating solar panels market size, segmentation data, and competitive intelligence, access all details of the Mordor Intelligence report at:

Check out related reports published by Mordor Intelligence:

Thin Film Solar PV Market: The thin film solar PV market report is segmented by type (cadmium telluride, perovskite thin film, amorphous silicon, organic/polymer, and more), substrate (rigid glass substrate and metal foil substrate), installation type (ground mounted, rooftop, and floating solar), application (utility-scale power plants, building-integrated pv, residential rooftop, and more), and geography. (North America, Europe, Asia-Pacific, and more).

First Solar Inc., Hanergy Thin Film Power Group Ltd, Solar Frontier K.K., Sharp Corporation, Kaneka Corporation are the major companies operating in this market. Read more about the thin film solar PV companies at:

Flexible Solar Cell Market: The flexible solar cell market report is segmented by technology (organic photovoltaics, copper indium gallium selenide, amorphous silicon, perovskite, and more), substrate material (plastic, metal foils, and ultra-thin glass), application (building-integrated photovoltaics, consumer electronics and IoT devices, automotive and transportation, and more), and geography. (North America, Europe, Asia-Pacific, South America, and more).

About Mordor Intelligence

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