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According to the World Bank's Where Sun Meets Water report, as of the end of September, the cumulative installed capacity of global floating photovoltaic power plants was 1.
1 GW, a major milestone
in the development of the photovoltaic market since ground-based photovoltaic solar energy entered the market in 2000.
"If there is any indication of land-based PV development, floating solar could at least grow rapidly, profiting from the cost reductions that come with land-based PV deployment," the report states
.
World Bank experts outline three scenarios
for the potential growth of floating solar.
In the first, more conservative scenario, they argue that floating PV will account for 1% of the world's man-made freshwater reservoirs, with an estimated potential installed capacity of 400 GW
.
Of these, 101 GW will be in Africa, North America and Europe will account for 126 GW and 20 GW respectively, the Middle East and Asia will account for 116 GW, while South America and Australia have potential of 36 GW and 5 GW
, respectively.
In the second, more favorable scenario, the proportion of freshwater surface occupied rises to 5%, with a global potential of 2022 GW
.
Of this, Africa accounted for 506 GW, North America 630 GW, and the Middle East and Asia accounted for 578 GW
.
The optimal scenario proposed by the study's authors envisages a potential 4044 GW, which could be achieved
if 10% of the world's available sites utilized floating solar.
The report notes that the cost of floating PV is still slightly higher than ground-mounted PV, with additional costs mainly related to
the need for pontoons, moorings and more resilient electrical components.
"Total capital expenditure for turnkey floating PV installations in 2018 was generally between $0.
8 and $1.
20 per $1.
20, depending on the location of the project, the depth of the water body, the variation in depth, and the size of the system," the World Bank said
.
According to the World Bank's Where Sun Meets Water report, as of the end of September, the cumulative installed capacity of global floating photovoltaic power plants was 1.
1 GW, a major milestone
in the development of the photovoltaic market since ground-based photovoltaic solar energy entered the market in 2000.
"If there is any indication of land-based PV development, floating solar could at least grow rapidly, profiting from the cost reductions that come with land-based PV deployment," the report states
.
World Bank experts outline three scenarios
for the potential growth of floating solar.
In the first, more conservative scenario, they argue that floating PV will account for 1% of the world's man-made freshwater reservoirs, with an estimated potential installed capacity of 400 GW
.
Of these, 101 GW will be in Africa, North America and Europe will account for 126 GW and 20 GW respectively, the Middle East and Asia will account for 116 GW, while South America and Australia have potential of 36 GW and 5 GW
, respectively.
In the second, more favorable scenario, the proportion of freshwater surface occupied rises to 5%, with a global potential of 2022 GW
.
Of this, Africa accounted for 506 GW, North America 630 GW, and the Middle East and Asia accounted for 578 GW
.
The optimal scenario proposed by the study's authors envisages a potential 4044 GW, which could be achieved
if 10% of the world's available sites utilized floating solar.
The report notes that the cost of floating PV is still slightly higher than ground-mounted PV, with additional costs mainly related to
the need for pontoons, moorings and more resilient electrical components.
"Total capital expenditure for turnkey floating PV installations in 2018 was generally between $0.
8 and $1.
20 per $1.
20, depending on the location of the project, the depth of the water body, the variation in depth, and the size of the system," the World Bank said
.
