Floating Power Plant Market: South East Asia's Renewable Revolution Floating power plants, particularly floating solar panels, have gained traction recently as innovative renewable energy solutions. Inkwood Research predicts the global floating power plant market to project a 10.74% CAGR, generating a revenue of $19.92 billion during the forecast period, 2023-2028. With its unique geographical and socio-economic characteristics, South East Asia is at the forefront of this emerging trend.
Floating Power Plants in South East Asia: 5 Pillars of Development Pillar 1: Harnessing Abundant Water Resources and Overcoming Land Scarcity
Water Bodies as Alternative Spaces: South East Asia is home to abundant water resources, including reservoirs, lakes, and ponds. These vast water surfaces present a significant opportunity for deploying floating solar panels, which can help the region tap into a previously underutilized renewable energy source. With the increasing global focus on sustainability and reducing carbon emissions, floating solar panels provide an innovative solution that capitalizes on the region's geographical strengths. (Source: Asian Development Bank) Limited Land Availability: The region's rapid urbanization and high population density have led to land scarcity, making finding suitable sites for ground-mounted solar installations challenging. In