While many properties are ideal for solar panels, others are not. What about properties that own bodies of water but lack suitable land or rooftop space? Here's where floating solar panels come in handy.

Floating photovoltaics (FPV), or floatovoltaics, are solar panel arrays that float directly on top of bodies of water. This type of technology is great for properties that don't have suitable land or rooftops or heavily utilize land but can't afford to give up land space. Like any other electronic, high temperatures can reduce performance, but with FPVs, the water cools down the PV panels, resulting in higher yields. Many countries, including Japan, China, the United Kingdom, and the United States, are beginning to increase their use of FPVs.

China currently has the largest FPV project in the world, with a capacity of 320 MW in Shandong province. In the United States, notable FPV farms include the Healdsburg Floating Solar Farm in California, which has a capacity of 4.8 MW, the Sayreville Floating Solar Farm in New Jersey, which has a capacity of 4.4 MW, and the Windsor Floating Solar Farm in California, which has a capacity of 1.8 MW. In Orlando, Florida, there's even a 250 kW FPV farm at Universal Orlando Resort.

While FPV is a suitable option, and sometimes the only option, for properties, it does have some disadvantages. FPV is typically expensive for starters due to the specialized equipment required for installation. FPV's must be mounted on top of a buoyant structure, which can be costly. Calmer bodies of water tend to be cheaper in costs versus oceans because it tends to be an easier installation process. While these are some of the disadvantages, there may be an increasing demand for this type of installation in the future.

FPVs have a lot of potential for properties on the water or don't want to use their land for solar. As the cost of solar equipment falls, so will the cost of other methods of solar installation, which will aid in the continued development of FPVs.