Floating Solar Market Report 2026

Floating Solar Market Overview

• Floating Solar market size has reached to $5.97 billion in 2025 • Expected to grow to $18.99 billion in 2030 at a compound annual growth rate (CAGR) of 26% • Growth Driver: Rising Focus On Clean-Fuel Energy Generation Boosts Floating Solar Market Growth • Market Trend: Advancing Efficiency And Sustainability In The Floating Solar Market • Asia-Pacific was the largest region in 2025 and North America is the fastest growing region.

What Is Covered Under Floating Solar Market?

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.

What Is The Floating Solar Market Growth Forecast?

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. Major trends in the forecast period include expansion of floating solar installations on reservoirs, rising adoption of tracking floating solar systems, growing integration with hydropower infrastructure, increased use of modular floating platforms, enhanced focus on water-efficient energy generation.

What Is The Driver Of The Floating Solar Market?

The growing focus on clean-fuel energy generation is expected to propel the growth of the floating solar market. Clean fuel energy is derived from renewable sources that produce minimal or no greenhouse gas emissions, contributing to a sustainable energy future. The focus on clean fuel energy generation is driven by several key factors, including environmental concerns, the need for energy security, and supportive government policies. Floating solar systems play a significant role in clean-fuel energy generation by providing an efficient, renewable source of electricity while minimizing land use and offering additional environmental benefits. For instance, in May 2023, according to the International Energy Agency, a France-based intergovernmental organization, the amount invested overall in clean energy grew from 1,617 billion in 2022 to 1,740 billion in 2023. Therefore, the increasing emphasis on clean fuel energy generation significantly drives the floating solar industry.

Key Players In The Global Floating Solar Market

Major companies operating in the floating solar market are Sharp Corporation, LONGi Green Energy Technology Co. Ltd., JinkoSolar Holding Co. Ltd., Kyocera Corporation, Trina Solar Limited, JA SOLAR Technology Co. Ltd., Canadian Solar Inc., Sungrow Power Supply Co. Ltd., Risen Energy Co. Ltd., First Solar Inc., GCL-Poly Energy Holdings Limited, SunPower Corporation, Tata Power Solar Systems Limited, Cleantech Solar, Vikram Solar Limited, REC Solar Holdings AS, Greenyellow, Seraphim Solar System Co. Ltd., Adtech Systems Limited, Pristine Sun Corporation, Mecasolar, Ciel & Terre International, Yingli Green Energy Holding Company Limited, Solaris Synergy, Swimsol GmbH

Global Floating Solar Market Trends and Insights

Major companies operating in the floating solar market are focused on developing innovative technologies and large-scale installations, such as floating solar projects, to optimize energy generation, enhance efficiency, and maximize the use of water surfaces for renewable energy production. Floating solar projects refer to solar power systems installed on floating platforms or structures placed on bodies of water, such as lakes, reservoirs, and ponds. For instance, in June 2023, Noria Energy Corporation, a US-based renewable energy company, launched Aquasol floating solar projects, South America's largest floating solar project at Colombia's Urrá Dam. This ambitious project features many solar panels mounted on innovative floating platforms designed to maximize energy production while minimizing land use. The floating solar system benefits from the water's natural cooling effect, enhancing the PV panels' efficiency and performance. The project integrates seamlessly with the existing hydropower infrastructure of the Urrá Dam, optimizing overall energy generation and contributing to a more sustainable and reliable power supply.

What Are Latest Mergers And Acquisitions In The Floating Solar Market?

In January 2024, Glentra Capital A/S, a Denmark-based energy transition infrastructure investment firm, acquired Third Pillar Solar Renewables LLC for an undisclosed amount. Throughthis acquisition, Glentra aims to strengthen its position in the renewable energy sector by expanding its portfolio of solar energy assets and leveraging Third Pillar Solar Renewables' expertise to drive growth and innovation in solar energy solutions. Third Pillar Solar Renewables LLC is a US-based company that develops floating solar projects.

What Defines the Floating Solar Market?

The floating solar market consists of sales of floating solar panels, floating platforms, mounting systems, and electrical infrastructure. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Floating Solar Market Report 2026?

The floating solar market research report is one of a series of new reports from The Business Research Company that provides market statistics, including Market Report 2026?global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the floating solar Market Report 2026? The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the Market Report 2026?