Solar Floating Panel Market: Increasing Demand for Alternative Energy Sources Drives Market Growth
Solar Floating Panel Market: Increasing Demand for Alternative ... Clayton County Register
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The Global Solar Floating Panel Market
The global solar floating panel market is expected to grow at a promising rate in the forecast period due to the increasing demand for alternative sources of energy. Factors such as rising population and the need for water supply are also driving market growth. Solar floating panels are installed on water bodies and help reduce evaporation from ponds, lakes, and reservoirs. They provide a reliable supply of electricity and are compatible with all types of water. These panels are particularly useful in drought-stricken areas where water loss can be controlled. Additionally, government initiatives promoting the adoption of renewable energy sources are further supporting market growth.
Segmentation of the Market
The market for solar floating panels can be segmented based on factors such as the type of water body where the panels are installed, application (grid-connected or off-grid systems), installation capacity, and geographical considerations. The market is witnessing significant growth in the 1 to 3 MW category, as most floating solar installations are smaller than 1 MW.
Impact of COVID-19
The outbreak of COVID-19 has had an impact on various industries, including the solar floating panel market. The global lockdown and strict government restrictions have resulted in production halts and reduced sales for major players. Companies have also had to reduce their operating workforce to comply with social distancing norms, affecting production and supply chains.
Global Expansion of Solar Floating Panel Technology
Solar floating panel technology has been spreading globally, with installations in countries such as China, Canada, Australia, Brazil, and many others. The market initially started in Japan in 2007 and has since expanded to various developed and developing nations.
Key Industry Developments
Some key industry developments in the solar floating panel market include Eni New Energy’s plan to develop a 14.19 MW floating solar plant in Southern Apulia, Italy, and Sunseap’s announcement to build the world’s largest solar floating panel on seawater in the Johor Channel between Malaysia and Singapore.
Conclusion
In summary, the increasing demand for alternative energy sources and government initiatives to promote renewable energy are driving the growth of the solar floating panel market. Despite the impact of COVID-19, the market is expected to continue its expansion globally.
SDGs, Targets, and Indicators
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SDG 7: Affordable and Clean Energy
- Target 7.2: Increase substantially the share of renewable energy in the global energy mix
- Indicator 7.2.1: Renewable energy share in the total final energy consumption
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SDG 6: Clean Water and Sanitation
- Target 6.4: Substantially increase water-use efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity
- Indicator 6.4.2: Level of water stress
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SDG 13: Climate Action
- Target 13.2: Integrate climate change measures into national policies, strategies, and planning
- Indicator 13.2.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | Target 7.2: Increase substantially the share of renewable energy in the global energy mix | Indicator 7.2.1: Renewable energy share in the total final energy consumption |
| SDG 6: Clean Water and Sanitation | Target 6.4: Substantially increase water-use efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity | Indicator 6.4.2: Level of water stress |
| SDG 13: Climate Action | Target 13.2: Integrate climate change measures into national policies, strategies, and planning | Indicator 13.2.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula |
Analysis
The issues highlighted in the article are connected to multiple Sustainable Development Goals (SDGs). The relevant SDGs are SDG 7: Affordable and Clean Energy, SDG 6: Clean Water and Sanitation, and SDG 13: Climate Action.
SDG 7: Affordable and Clean Energy
The article discusses the increasing demand for alternative sources of energy and the installation of solar floating panels as a reliable supply of electricity. This aligns with SDG 7, which aims to ensure access to affordable, reliable, sustainable, and modern energy for all. Specifically, the article addresses Target 7.2: Increase substantially the share of renewable energy in the global energy mix. The use of solar floating panels contributes to the increase in renewable energy sources. The article also mentions Indicator 7.2.1: Renewable energy share in the total final energy consumption, which can be used to measure progress towards this target.
SDG 6: Clean Water and Sanitation
The article highlights that solar floating panels help reduce evaporation from water bodies, such as ponds, lakes, and reservoirs. This addresses the need for water supply and aligns with SDG 6, which aims to ensure availability and sustainable management of water and sanitation for all. Specifically, the article relates to Target 6.4: Substantially increase water-use efficiency across all sectors and ensure sustainable withdrawals and supply of freshwater to address water scarcity. The use of solar floating panels can contribute to water-use efficiency by reducing evaporation. The article implies Indicator 6.4.2: Level of water stress, as the panels are particularly useful in drought-stricken areas where water loss can be controlled.
SDG 13: Climate Action
The article mentions government initiatives promoting the adoption of renewable energy sources, which aligns with SDG 13: Climate Action. This goal aims to take urgent action to combat climate change and its impacts. The article specifically addresses Target 13.2: Integrate climate change measures into national policies, strategies, and planning. The government initiatives mentioned in the article demonstrate efforts to integrate renewable energy sources like solar floating panels into national policies. The article implies Indicator 13.2.1: Number of countries that have integrated mitigation, adaptation, impact reduction, and early warning into primary, secondary, and tertiary curricula, as the government initiatives involve policy integration.
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: claytoncountyregister.com
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