According to a report published by TechSci Research on “Global Floating Solar Panels Market By Type, By Capacity, By Connectivity, By Region, Competition, Forecast & Opportunities, 2024”, the global floating solar panels market is anticipated to grow at a robust pace during the forecast period on account of growing focus towards clean fuel electricity generation sources coupled with scarcity of land. Moreover, regulators across the globe are setting up numerous targets pertaining to clean energy capacity addition to curb the environmental pollution level, which is further boosting the demand for floating solar panels globally.

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On the basis of type, the global floating solar panels market has been categorized into stationary and solar tracking, of which, stationary category is expected to account for a significant portion of the global floating solar panels market during the forecast period. Stationary floating solar panels are in demand in the developing and emerging economies owing to the low cost of installation as compared to their counterpart. However, the solar tracking floating panels are expected to grow at a faster rate throughout the forecast period owing to their increased efficiency with tracking technology.