As solar energy becomes more affordable and prevalent around the globe, new technologies and methods of installations are materialising. Floatovoltaics is a growing market and essentially has become an alternative to conventional solar. Floating solar arrays are typically installed on impounded bodies of water, whether man-made or natural. However, the first pilot project for solar on sea has already started.
Financially floating solar comes with opportunities such as cutting costs on land acquisition and enhanced efficiency through natural cooling. However the uncertainties around O&M and sustainability of materials make the business case still challenging.
Join the Future Grid Lab on Floating Solar for a full update on the state of floatovoltaics!