Market Potential for Floating Solar in Europe
The Floating Solar PV System has been gaining massive recognition in Europe and across the globe owing to its possibilities and benefits over the conventional Utility-scale solar PV systems as they need large parcels of land to function but some countries especially islands are land constrained due to other important needs for land such as the building of infrastructural facilities, agricultural activities, forestry, and many others. Thus, FPV systems are better as they offer many benefits such as high energy generation, decrease in water evaporation, and water temperature regulation while not competing with land use as they are installed on water bodies. However, the production cost of FPV energy is relatively higher than their conventional counterparts although this is projected to change soonest as many cost-effective tools and techniques are being developed. Furthermore, the FPV energy system is still in the development stage although the FPV market is constantly booming and surpassing some of the already existing energy systems.
Most areas in Europe are adapting to the use of floating PV systems as their energy alternative, especially islands.
The Netherlands leads in Europe on Floating Solar PV deployment and Installations up to 110 MW capacity has been installed as is possible due to its government support, favorable policies, incentives, and initiatives. The Ministry of Infrastructure and Water management 2017, started a consortium named "Zon op Water" -Sun on Water so as to plan toward the development of a 2,000MW FPV plant on or before 2023.
The United Kingdom: Two key reasons for the installation operations of FPV systems in the UK are as follows
Land use competition
On-site high energy demand from water treatment sites
A lot of FPV power plants are already constructed on Farms' irrigation reservoirs ranging from 100–200 kW in power capacity. Notably, the largest FPV project in Europe is currently located on the Queen Elizabeth II Reservoir run by Thames Water which was developed and funded, and Managed by Lightsource BP and Ennoviga Solar with a power capacity of 6.3MW.
The second-largest FPV project with a 2.99 MWp capacity (£3.5 million investment) developed by United Utilities in the UK is located at the Godley Reservoir, Hyde.
There are many projects which are ongoing or inview in the UK such as the projected launching of a pontoon
manufacturing plant with about 12 MWp capacity by Aqvafloat.
Portugal Negative Auction: A big wave
Portugal's negative auction set a world record for low prices for future output. The auction right to develop and maintain FPV plants on dam reservoirs is a needed success for energy consumers.
The government accustomed the rights to develop and operate an FPV system of about 183MW in power capacity to the public of which the major part was gotten by a local power company EDP Renovaveis (EDPR) at a negative price bargain, this insinuates that it will generate power for over 15 years at a purchasing fund of 4.13 euros per MWh.
With this approach, the FPV market is expected to generate massive returns as well as expand not just in Europe but across the globe. More favorable policies, initiatives, and strategies are needed to push the use of renewable energy sources to greater heights so as to meet up with the global net-zero carbon emission plan.
Learn more about this at the 2nd Annual Floating Solar PV Forum!
Meet One Of Our Speakers
We are excited to announce that Alexandre Danthine, Senior Associate, Aurora Energy Research will present a case study on “Market Potential for Floating Solar in Europe” at the 2nd Annual Floating Solar PV Forum on the 28th - 29th of June 2022. Don’t miss your chance to register and gain insight from other industry leaders!