Table 11

PESTLE analysis of floating solar.

Factor Description Potential impact
Political
  • Government policies and incentives, international relations

  • Supportive policies can drive adoption, Trade agreements can affect costs.

Economic
  • Cost of FSPV technology,

  • Energy market dynamics,

  • Financing mechanisms.

  • High initial costs can be a barrier,

  • Competitive energy prices Favor FSPs,

  • Innovative financing is needed.

Social
  • Public perception,

  • Environmental concerns,

  • Community benefits.

  • Public acceptance is crucial, Transparent communication is needed,

  • Local benefits can foster support.

Technological
  • Advancements in solar panels,

  • Anchoring systems,

  • Remote monitoring.

  • Increased efficiency and lower costs,

  • Improved safety and reliability for ocean deployments,

  • Optimized maintenance.

Legal
  • Regulations for freshwater/ocean deployments,

  • Environmental impact assessments

  • Clear regulations promote investment,

  • Assessments ensure environmental compliance.

Environmental
  • Water scarcity,

  • Climate change mitigation,

  • Potential impact on ecosystems.

  • Reduced water evaporation is a benefit,

  • Contributes to the clean energy transition,

  • Potential negative impacts require mitigation strategies.

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