Transect Team
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Floating solar, or floating photovoltaic (FPV), represents a groundbreaking advancement in renewable energy. This innovative technology allows solar panels to be installed on non-recreational bodies of water, such as industrial reservoirs and wastewater treatment ponds. As the demand for sustainable energy continues to rise and land availability becomes increasingly scarce, FPV systems offer a creative solution that optimizes land use, boosts energy production, and provides significant environmental benefits.
Experts are increasingly viewing floating solar as the next big trend in renewables. The global market for floating solar has already shown impressive growth.
In a recent webinar, Transect welcomed experts from AccuSolar to explore the future of floating solar. Tom Lang, CTO of AccuSolar, shared his insights: “With the projections coming out and all the market research we’re seeing, the market is shifting to floating solar.” He also emphasized the impact of land scarcity on this transition, noting, “Developers are going to need substantial amounts of floating solar down the road because we just can’t get the land access we need.”
As this innovative technology takes center stage in solar energy discussions, let’s dive into some of the most frequently asked questions about floating solar.
What is floating solar, and how does it work?
Floating solar systems consist of solar panels placed on floating structures in water. These panels generate electricity without using up valuable land space by harnessing the sun’s energy from the surface of lakes or reservoirs. Floating solar has several critical advantages over traditional land-based systems: it conserves land, reduces water evaporation, improves water quality, and can produce more energy due to the natural cooling effect of water on the panels.
What’s the market outlook for floating solar?
The future of floating solar looks very promising. The global market for FPV projects has been growing rapidly. In 2020, the market had a capacity of around 1.6 gigawatts (GW), and it’s expected to reach 4.8 GW by 2026. Even more exciting, globally, annual floating solar installations could surpass 6 GW by 2031. This growth is driven by technological improvements, supportive policies, and increasing investor interest. As the technology develops, we can expect floating solar projects to become even larger and more efficient.
What are the challenges of connecting floating solar panels to the grid?
Like all utility-scale energy projects, connecting to the electrical grid can be challenging. Different regions and utility companies have varied standards and procedures, making the process inconsistent and sometimes difficult for developers. Many report encountering the harsh realities of navigating clogged interconnection queues, which are lengthy and complex interconnection processes. To combat these factors, renewable energy developers, including FVP, can streamline their projects by understanding site capacity quickly and implementing strategic site selection processes.
How do the costs of floating solar compare to traditional solar?
One of the biggest questions people have about floating solar is whether it’s more expensive than traditional ground-mounted systems. While FPV systems typically have higher upfront installation costs, they offer long-term savings by avoiding land acquisition costs. Additionally, their higher energy yields, thanks to the cooling effects of water, can help balance out those initial expenses.
How do large floating solar projects benefit from economies of scale?
As FPV projects get bigger, they can take advantage of economies of scale. This means larger projects can reduce costs by purchasing materials in bulk and securing better financing terms. These savings help make floating solar more financially competitive than smaller installations, leading to widespread technology adoption.
What permits are required for floating solar projects?
Environmental regulations are critical in developing all renewable energy projects, including floating solar. Developers must secure various permits at the local, state, and federal levels to ensure the projects comply with water quality standards, protect natural habitats, and follow land use laws. Environmental assessments are essential to understand and mitigate any negative impacts while demonstrating the overall environmental benefits of FPV projects.
How do floating solar systems handle severe weather, like ice and hail?
Some may assume that adverse weather poses a challenge to floating solar installations. However, modern systems are built to withstand these conditions. For instance, solar panels used in FPV systems are reinforced to handle hail, and in regions where water bodies freeze, the systems are equipped with features to prevent ice buildup. Additionally, operational strategies such as tilting panels help manage snow and ice, ensuring energy production continues year-round, even in harsh climates.
How does bifacial gain differ between floating and ground-mounted solar?
Bifacial solar panels, which capture sunlight from both sides, are increasingly used in floating solar projects to boost energy production. Because water surfaces reflect more sunlight, the bifacial gain in floating solar systems is often greater than that of ground-mounted systems. This added efficiency makes floating solar an attractive option for maximizing energy generation.
What are the benefits of using domestic content for floating solar projects?
The Inflation Reduction Act (IRA) provides incentives for renewable energy projects that meet domestic content requirements. For floating solar developers, using materials made in the U.S. is key to securing these financial benefits. This not only helps make FPV projects more profitable but also supports local economies and job creation.
How does floating solar impact water quality?
Floating solar systems offer several environmental benefits, one of the most notable being their positive effect on water quality. By covering the water’s surface, FPV systems reduce evaporation, helping conserve valuable water resources. Additionally, they can limit the growth of harmful algae by shading the water and keeping it cooler. These benefits make floating solar an excellent solution for improving the sustainability of water bodies.
Are you curious about the next big trend in renewable energy? Dive deeper into floating solar by watching our exclusive webinar with AccuSolar.