Cumulative FPV Capacity Scales up to 2 times in less than two years

Floating photovoltaic (FPV) was considered a nascent market two years ago. Cumulative FPV capacity had reached 1.3 GW (1300 MW) at that time. However, FPV firstly appeared as an option to extend solar power across the world in Aichi japan in 2007 and gained real momentum in 2014, it showing over 100 times annual growth during 2007 to 2018.

Floating photovoltaic’s remarkable market growth has been eye-opener for solar PV developers and policymakers to the special niche market with its cumulative capacity rising up two times from the beginning of 2019 to August 2020.

According to a recent report from the World Bank, the global potential of FPV, even under moderate assumptions, is 400 GW all over the world. This is equal to the cumulative solar capacity in the world from the beginning through 2017.

It is important to note that countries including, China, India, South Korea, Taiwan, Thailand and Vietnam are the leaders in this market.

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