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NEW YORK, Feb. 23, 2021 /PRNewswire/ Government efforts to curb the release of harmful gases into the atmosphere are expected to propel the global floating solar panels market to $2,301.8 million by 2026, from $685.2 million in 2019, according to the market research study published by P&S Intelligence. In countries around the world, stringent environmental regulations are in place and tax rebates and other financial incentives are being offered to promote clean energy. Though solar energy is one of the best alternatives to creating electricity from fossil fuels, the requirement for large areas for the installation of photovoltaic (PV) panels discourages many from adopting it.
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Government efforts to curb the release of harmful gases into the atmosphere are expected to propel the global floating solar panels market to US$2301.8 million by 2026, from US$685.2 million in 2019, according to the market research study published by P&S Intelligence.
In countries around the world, stringent environmental regulations are in place and tax rebates and other financial incentives are being offered to promote clean energy. Though solar energy is one of the best alternatives to creating electricity from fossil fuels, the requirement for large areas for the installation of photovoltaic (PV) panels discourages many from adopting it.
This is proving beneficial for the floating solar panels market, as such PV plants are installed on waterbodies, including lakes, ponds, dam reservoirs, and seas. This leaves the land free for other purposes, such as agriculture or construction, which is why governments are now rapidly installing PV panels on water. For instance
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/Solar Water Pumps Market Size Worth USD 1347.0 Million By 2025 With CAGR of 17.4% | Growth Projection, Latest Trends, Regional Outlook and COVID-19 Impact Analysis on Solar Water Pumps Industry
Solar Water Pumps Market Size Worth USD 1347.0 Million By 2025 With CAGR of 17.4% | Growth Projection, Latest Trends, Regional Outlook and COVID-19 Impact Analysis on Solar Water Pumps Industry
Solar power is a natural and symbiotic choice for water pumping and it is made up of two basic components; pumps and photovoltaic panels.
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Solar Water Pumps Market is valued at USD 438.2 Million in 2018 and expected to reach USD 1347.0 Million by 2025 with a CAGR of 17.4% over the forecast period. Continuous increase in the price of electricity as well as diesel fuel is the key factor driving the growth of global solar water pumps market.