The economic impact of Floating Solar PV

The economic impact of floating solar PV is multi-faceted and can have numerous positive effects on local and national economies. Here are some of the key economic benefits of floating solar PV:

 

Decreased energy expenses: By generating solar electricity that can be used to balance out traditional energy sources, floating solar PV can help to lower energy costs. For distant places without access to the grid or for towns that depend on pricey diesel generators for power, this can be very advantageous.

 

Efficiency improvement in energy production: Floating Solar PV systems have the potential to be more effective than conventional land-based solar installations since water is a good reflector of sunlight. Floating Solar PV can generate more electricity per square metre of solar panel by making use of the reflecting qualities of water.

 

Employment creation: The expansion of the floating solar PV market is predicted to result in the development of new positions in the renewable energy industry. This covers positions in research and development as well as solar panel production, installation, and maintenance. These positions may offer local communities economic opportunity and boost regional economies.

 

Reduced carbon emissions: Floating Solar PV can aid in lowering greenhouse gas emissions by replacing fossil fuels in the production of power. By lowering the expenses related to climate change, such as damage from extreme weather occurrences, this can have a positive economic impact.

 

Increased water quality: Floating Solar PV can help to lessen evaporation and encourage the growth of aquatic plants by shadowing the surface of bodies of water. This may result in better water quality, which may benefit sectors like fishing and tourism economically.

 

Less need for land: Because floating solar panels are positioned on water, less land is needed. When there are competing land uses, such as agriculture or conservation, this can be especially helpful where land is expensive or rare.

 

Enhanced economic resilience: Floating Solar PV can contribute to enhancing the economic resilience of communities by offering a source of inexpensive electricity. This can give businesses and individuals a consistent stream of income and help to offset any fluctuations in energy prices or supply.

 

Ultimately, Floating Solar PV can have a significant economic impact, benefiting local communities and society as a whole. Floating Solar PV can contribute to the creation of a more wealthy and equitable future by lowering energy costs, generating new employment opportunities, enhancing economic and environmental resilience, and fostering sustainable development.

 

To find out more details about The economic impact of Floating Solar PV, join us on 27th - 28th June, 2023 for the 3rd Annual Floating Solar PV Forum, in Amsterdam Netherlands.

 

To register or learn more about the Forum please check here: https://bit.ly/3zVvdfN.

For more information and group participation, contact us: [email protected]

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