Floating solar photovoltaics (FSPVs) may be a game-changer in the renewable energy sector, according to analysis by Frost & Sullivan.
Conventional land-based solar power is challenged by rising land acquisition costs brought on by population growth, the analysis said. FSPVs do not require land and float on bodies of water, including reservoirs, hydroelectric dams, and artificial lakes.
As a result, floating solar technology manufacturers have made significant investments in research and development (R&D) work to improve floating support materials, designs, mooring and anchoring technologies, and sun-tracking systems.
