October 1, 2020
Floating solar is an innovative new approach to solar panel installation, and a term that you may be hearing more and more frequently in the coming years. Although the floating solar model is relatively new, you can already find floating solar installations in the United States, the United Kingdom, France, Japan, China, Singapore, and Indonesia, to name just a few.
For both private and industrial pond/reservoir owners, a floating solar lease could offer a new source of income with minimal intrusion. Just as landowners can earn money with a solar farm on their property, pond/reservoir owners can generate revenue from a floating solar lease.
What is floating solar?
Floating solar, sometimes known as ‘floatovoltaics’, is a unique approach to the deployment of solar energy, involving the installation of solar panels on floating platforms which sit atop bodies of water like lakes, ponds, and reservoirs. This offers an innovative alternative to traditional rooftop or ground-mounted solar installations which you are likely more familiar with.
What are the benefits of floating solar?
Along with the usual benefits of solar energy, floating solar panels offer a host of unique benefits. Floating solar panels are often more efficient than equivalent land-based panels owing to the cooling effect of the water. The shading offered by floating solar panels is environmentally beneficial, as it can reduce water evaporation by up to 70%, while also limiting the growth of algae beneath the floating platform. Additionally, installing solar panels on a body of water avoids the need to find space for the panels on land, which is often quite costly, and leaves more land available for other uses such as traditional agriculture.
Who can benefit from a floating solar lease?
In much the same way that landowners can generate additional revenue by leasing their land for solar, owners of reservoirs, ponds, etc. can lease water space for solar and earn extra income. The following entities are well positioned to profit from floating solar:
Water Districts
Municipal Water Utilities
Industrial Reservoir Owners
Private Reservoir Owners
Any of the above can add a new source of income by leasing the surface of their water for a floating solar installation. A floating solar installation does not interrupt day-to-day operations and requires no investment on the part of the district, utility, pond/reservoir owner, or whoever may be leasing their space.
The Benefits of Floating Solar for Pond & Reservoir Owners
Those leasing water space for solar panels will see a number of benefits from the floating solar installation on their property:
New source of income from lease payments
Potential to offset on-site electricity usage
Reduction of greenhouse gas emissions
Improved water quality
Reduced algae growth
Lower water evaporation beneath panels
Greater panel efficiency than a land-based system
Leaves land unoccupied and available for other uses
No investment required
No impact on current operations
Are you interested in leasing land or roof space for solar? Get in touch with YSG today. YSG has been operating in the solar sector for over ten years and is vastly experienced in every aspect of solar PV. Send us an email or call at 212.389.9215 to discuss your options, or learn more.
YSG Solar is a project development vehicle responsible for commoditizing energy infrastructure projects. We work with long-term owners and operators to provide clean energy assets with stable, predictable cash flows. YSG's market focus is distributed generation and utility-scale projects located within North America.
Sources:
https://www.ciel-et-terre.net/
https://news.energysage.com/floating-solar-what-you-need-to-know/