Renewable energy is no longer the poor relation in the energy mix, seeking constant policy support and financial incentives. Take solar energy, for example. Two years ago, it relied on support from feed-in tariffs. Today, solar power is competing with fossil fuels. In many countries solar is already at grid parity or cheaper. Solar power was initially installed on rooftops, then on public light fittings, later on land.
Now it can be installed on water. Floating solar enables large-scale panel networks to be built without spending on scarce land or long transmission lines. A floating solar system can be erected in less than 3 months using materials as basic as old tires, bamboo – virtually anything that floats. We visited this small floating solar pilot in the Republic of Korea, and were fascinated to see it up close. We hope to bring this new technology to countries in Central Asia, leapfrogging land options where large bodies of water are easily accessible. — blog.adb.org/blogs