Fitch Solutions estimated that 10GW of new floating photovoltaic (FPV) capacity will be added by 2025. We have already reported that until the end of August 2020, cumulative FPV capacity reached 2.6 GW. Thus, after taking this into consideration, the total cumulative capacity of FPV will add up to more than 12 GW by 2025 in the globe.
This amount accounts for more than 15% of the annual utility-scale solar installation in 2019. Although this segment of the solar industry does not have an established history. It has shown a rapid increase in installation, as compared to ground-mounted solar installation.
Fitch Solutions also noted that a lack of knowledge and standards, in areas such as environmental impacts and regulations, have made projects relatively high risk in this segment.
China, South Korea, India, Thailand, and Vietnam are the leading countries in the installation of FPV projects.
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