United States Floating Photovoltaics Market Growth, Size, Trends Analysis- By Product, By System, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

United States Floating Photovoltaics Market Growth, Size, Trends Analysis- By Product, By System, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033

United States Floating Photovoltaics Market Introduction and Overview

According to SPER market research, ‘United States Floating Photovoltaics Market Size- By Product, By System, By Application – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the United States Floating Photovoltaics Market is predicted to reach 280.56 million by 2033 with a CAGR of 11.94%.

Floating photovoltaic systems use the same PV panels used on land. However, these panels are either floating in water or suspended above a body of water. Floating solar panels generate more electricity than a comparable sized traditional system due to the cooling impact and reflectivity of water. Solar panels’ shadowing effect may significantly reduce evaporation while also improving water quality by limiting the growth of some types of algae.

Floating PV installations in the US have slowed considerably as a result of the pandemic’s effects on the supply chain, labor shortages, and construction activity limitations. Numerous projects had cancellations or delays, which had a negative impact on the floating PV market’s growth. Furthermore, because of financial limitations brought on by the pandemic, local governments in a number of jurisdictions, including California, Texas, and others, modified their incentives and regulations.

Scope of the report:

Report Metric Details
Market size available for years 2020-2033
Base year considered 2023
Forecast period 2024-2033
Segments covered By Product, By System, By Application

Regions covered

Northeast, Midwest, West, South

Companies Covered
Core Development Group, LLC, Sungrow Floating PV, Ciel et Terre International, ABL Group, ACCIONA SA, BayWa r.e. Solar Projects LLC, D3Energy, Laketricity USA Inc, US Floating Solar.

United States Floating Photovoltaics Market Segmentation:

By Product: Based on the Product, United States Floating Photovoltaics Market is segmented as; Stationary Floating Solar Panels, Solar-tracking Floating Solar Panels.

By System: Based on the System, United States Floating Photovoltaics Market is segmented as; Stand Alone FPV Systems, Hybrid FPV Hydropower Systems.

By Application: Based on the Application, United States Floating Photovoltaics Market is segmented as; Man-made Water Bodies, Natural Water Bodies.

By Region: This research also includes data for Northeast, Midwest, West, South.