Public Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedPublic Disclosure AuthorizedOCTOBER 2023Unlocking the Potential ofFloating Solar Photovoltaics in IndiaVOLUME 1: MAIN REPORTDisclaimer The study focuses on Floating Solar Photovoltaics (FSPV) based power plants on inland waterbodies and details of applicable standards are included in the Volume 2: Guidance Document.The study reflects the view of the World Bank and does not necessarily reflect the view of the Government of India (GoI) and the findings of the study are not binding on the GoI.FOREWORD by COuntRy DiRECtOR, inDia • iiiFOREWORDby Country Director, indiaRamping up renewable energy is an integral part of India’s plans to reduce greenhouse gas emissions to meet its Nationally Determined Contributions (NDC) under the Paris Agreement. In this context, India is taking rapid steps to incorporate abundantly available and affordable renewable resources into its energy mix. Yet while India’s renewable energy resources are widely available, they often cannot be fully utilized due to a variety of factors, such as the paucity of large tracts of suitable land, or the high opportunity cost of land, among others. This report builds a compelling case for India to look beyond land and institute an ecosystem that supports the installation and operationalization of floating solar photovoltaics (FSPV) power plants. Since these plants are installed on the underutilized surfaces of large water bodies, no land needs to be diverted from other uses. The installation of FSPVs also spurs job creation and catalyzes the development of a domestic value chain as some of the components, such as floaters, need to be manufactured close to installation sites. They also provide a range of other benefits as they generate relatively more power than ground-mounted solar plants (due to the cooling effect of water) and better utilize shared infrastructure such as transmission systems, wherever available. India has an estimated potential of about 300 gigawatts of FSPV but less than 350 megawatts has been realized to date. The report analyses the constraints leading to the moderate pace of FSPV installation in the country and draws from global experience to suggest measures that can unlock the FSPV potential in India and other South Asian countries. The report also provides insights on the technical standards to be adopted in the use of floating solar technology. I hope this study contributes towards deepening the understanding of policymakers and developers and facilitates the deployment of floating solar power plants, contributing to the achievement of India’s NDC objectives, promoting energy independence and creating jobs for the people. Auguste Tano KouameCountry Director, IndiaThe World BankFOREWORD by COuntRy DiRECtOR, inDia • iiiFOREWORDby Country Director, indiaRamping up renewable ener...
