Large scale ground-mounted solar projects require a large tract of land. But the availability of a large tract of land is scarce and it is posing serious problems for developing large scale solar power project. On the contrary power, requirement is rising rapidly and potential of renewable energy in meeting that demand is undeniable. In this backdrop, floating solar power plants developed on ponds, lakes and small water bodies may go a long way in achieving the target of 175 GW RE by 2022.

Floating solar is particularly well suited for countries facing land scarcity and also for countries having large infrastructure for hydropower electricity. As per estimates, utilizing only 10-15% of India’s water resources for floating solar power plants could generate up to 30 GW of power. Industrial basins, irrigation ponds, and drinking water reservoirs are the preferred locations for FPV installations. SECI has called tender for 150 MW floating solar on Getasud and Dhurwa dams in Jharkhand.

The rise of FPV also creates opportunities for combining solar PV technology with hydropower stations. Right now LCOE of FPV slightly differs from the ground-mounted solar installation. Nevertheless, FPV systems have seen reductions in capital costs, reflecting economies of scale as the market expands.