The National Renewable Energy Lab (NREL) estimates that floating solar systems could meet 10 percent of the United States electricity needs at 2,100 gigawatts and estimates about 2.1 million hectares of land could be saved if solar panels were installed on bodies of water instead of on the ground.
Globally the Floating Solar market is expected to grow from $12.8 million in 2015 to $2.7 billion by 2025.
Recent estimates for the global installed capacity of floating solar are above 3 GWp, with widespread consensus among industry players that the capacity is expected to reach 10 GWp before the end of 2025.
A report from the World Bank estimates the global potential of floating solar, under moderate assumptions, is more than 4 TWp on man-made reservoirs alone, without accounting for coastal and offshore areas.
Floating solar demand is expected to grow by an average of 22 percent year-over-year from 2019 through 2024.
Annual Global Floating Solar Installations as a Percentage of Annual Global Solar Installations 2018-2024E, GW (DC)