Global floating PV status and potential

Abstract Floating photovoltaics (FPV) has been a rapidly growing source of renewable electricity for the past 15 years since first commercial systems were installed. In this work, the insights from SERIS FPV database are shared. This is likely the largest database of its kind and contains the information from 1142 FPV systems in operation, totalling 5.9 GWp, by the end of 2022. Mainland China has been leading FPV installation capacities since 2017 and comprises almost half of the cumulative installed capacity. Similar to land-based PV, FPV installation size has been increasing; the median size has grown from 0.09 MWp in 2013 to 1.40 MWp in 2022, while the median power density has increased from 82 Wp m−2 to 123 Wp m−2 in the same timeframe. The installation cost has fallen simultaneously – the lowest reported was 0.41 USD/Wp in India in 2021. Other pertinent insights from SERIS FPV database include float supplier market share, reported electricity price, water body types and characteristics, as well as its coverage ratio. Finally, the global FPV potential (capacity, energy production, and water saving), for different tilt angles, tracking configurations, and solar panel types are explored. By installing FPV on 10% of the area of 249 717 inland reservoirs, FPV capacity could reach up to 22 TWp and could fulfil the whole global electricity consumption and up to 5% of the world’s water demand. The use of trackers and bifacial panels are advantageous for energy generation in all locations, with trackers increasing specific energy yield of a typical fixed 10° tilt FPV by up to 50% for reservoirs within ± 40 ∘ latitude, while the bifacial gains reach up to 4.5% for all analysed configurations within ± 40 ∘ latitude. The insights from this global FPV market and potential analysis can serve as a reliable reference for FPV stakeholders, researchers, and regulators alike.