According to Wood Mackenzie, Global floating solar photovoltaic (FPV) capacity is expected to reach 77 GW (DC) by 2033, with 81% of the installations in the Asia-Pacific (APAC) region. India, China, and Indonesia are projected to lead the APAC market with a combined 31 GW (DC) capacity. Europe is expected to achieve 4.4 GW (DC), led by Germany, France, and the Netherlands, despite restrictive development criteria. The US market will contribute 0.7 GW (DC) by 2033, facing higher CAPEX and limited land availability. Hybrid FPV-hydro projects are forecasted to peak between 2026 and 2028, says the report. Lower module prices have reduced FPV costs, but challenges would continue for FPVs.
Asia-Pacific leads floating solar projections for 2033
India, China, and Indonesia will lead APAC’s 57 GW dc floating solar capacity, achieving 31 GW (DC) combined by 2033. (Image Source: SOLARbytes)
The company currently operates 50 MW of solar capacity and has 283 MW in development in the Valencian region. (Image Source: NextPower UK)
The project will provide renewable energy to 600 residential subscribers, including low- and moderate-income households, at reduced rates. (Image Source: Chaberton Energy)
EOS Capital Advisors advised Balanced Rock Power in selling its 25 MW solar project to Standard Solar. (Image Source: Standard Solar)
China Energy Engineering Corporation taps Huasun’s high-efficiency HJT solar modules for its 2024 projects. (Image Source: Huasun)