PVcase

Floating Solar Cost Competitiveness

Researchers from Italy and Spain found that floating photovoltaic (FPV) plants in Southern European Mediterranean countries can yield up to 2% more energy than land-based PV systems, and if installation costs are reduced by less than 12%, FPVs become cost-competitive, especially when combined with hydropower infrastructure, offering a promising solution to meet 2030 EU solar targets while avoiding land use conflicts.

Researchers have discovered that floating PV plants (FPV) can substantially contribute to achieving the 2030 EU targets. FPV also has the potential to prevent solar energy conflicts with agriculture and other potential risks.

Methods and Results

Scientists from Italy and Spain used various parameters and models, together with satellite data about each suitable water basin. They estimated costs, yields, cell temperature, and capacities of various floating and land PV (LPV) systems. Researchers simulated energy yields of modules using the PVWatts DC power model with data on irradiance from the CAMS Radiation Service. Simulations used Trina Solar modules with 21.4% efficiency, inverters with 96% efficiency, and DC to AC losses of 14%. The modules were south-oriented, and the PV system’s lifetime was set at 25 years.

It was discovered that FPV installations are cost-effective in certain Southern European countries. The study shows that in Mediterranean countries, where the average amounts of sunlight are high, FPV plants can achieve up to 2% greater energy yields than land-based installations. However, some configurations don’t allow FPVs to achieve lower temperatures than LPV systems and, eventually, lead to lower energy yields. Yet, if the FPV installation costs can be reduced by less than 12%, floating PV systems can be cost-competitive with land-based ones even in cases of underperformance. The cost-effectiveness can be even greater when FPV is combined with hydropower, as floating plants can use existing infrastructures.

The study also revealed that each additional degree of tilt angle of FPV systems is worth between 2.5 and 7.5 euros per kW. FPV systems can also produce yields between 640 and 1688 kWh, with capacity factors of 7.3 to 7.9 percent.

The Future of FPV

Floating solar plants have long been considered a go-to solution in future solar developments. There are many advantages associated with such systems, including:

  • No need for site preparations and ground grading; foundations are not required, allowing photovoltaic plants to be built in areas with more complex ground conditions.
  • Potentially lower rent fees for on-water sites.
  • No competition with agricultural land.
  • FPV can reduce evaporation rates and save water for other necessary operations (e.g., hydropower).
  • FPV benefits from the cooling effect from water, producing higher yields.

However, all these benefits still depend on the location and legislation of an area and are not universal.

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