FLECS – Floating solar

The Business Research Company’s 2026 report on FLOW summarises the sector.  “Floating solar refers to solar power systems installed on bodies of water, such as lakes, reservoirs, or ponds, instead of on land. This system provides a unique and innovative solution to expanding renewable energy capacity while conserving land and offering additional environmental benefits. Floating solar systems contribute to sustainable energy generation and help address the growing demand for clean power by harnessing the surfaces of water bodies. The main types of floating solar include stationary floating solar panels and tracking floating solar panels. Stationary floating solar panels are fixed in one location on the water surface and do not track the sun’s movement. They are simpler to install and maintain compared to tracking systems and are often chosen for their lower cost and reliability. The various capacities involved are below 5 MW, 5 MW to 50 MW, and above 50 MW and several connectivity include on-grid and off-grid. The floating solar market size is expected to see exponential growth in the next few years. It will grow to $18.99 billion in 2030 at a compound annual growth rate (CAGR) of 26.0%. The growth in the forecast period can be attributed to increasing investments in large-scale floating solar plants, rising demand for hybrid hydro-solar projects, advancements in floating platform durability, expansion of grid-connected floating solar systems, growing focus on maximizing renewable energy density”