A Review of Floating Photovoltaic Systems: Prospects, Challenges, and Sustainability Considerations

ABSTRACT The floating photovoltaic (FPV) system is gaining global attention as a promising renewable energy solution that addresses both land scarcity and rising energy demand while contributing to climate change mitigation. Unlike conventional ground‐mounted solar, FPV installations make use of reservoirs, lakes, and coastal waters, which not only saves valuable land but also improves efficiency through natural cooling, resulting in 10%–20% higher energy yields and up to 70% reduction in water evaporation. This paper reviews FPV's evolution from early concepts in the late 20th century to rapid commercialization after 2007. The study outlines three main system designs: Pontoon‐based, flexible membrane, and submerged structures, alongside critical components such as floating platforms, mooring systems, and AI‐enabled monitoring that ensure stability and performance. Engineering strategies discussed in this work include optimized site selection, hydrodynamic resilience, and auxiliary measures like cooling and automated cleaning. The paper also evaluates environmental interactions and shows that FPV may alter aquatic ecosystems by reducing light penetration and dissolved oxygen levels. However, it also demonstrates that these risks can be mitigated through eco‐friendly anchoring and limited coverage. Life cycle assessments presented here highlight sustainability benefits, including energy payback times of 1–3 years, emission reductions of 5%–10%, and recyclability rates up to 90%. Asia leads in current deployment, where the planned capacity of the largest FPV project has surpassed 2200 MW. Despite the availability of several FPV technologies, their extensive development is hindered by inadequate policy support as well as challenges such as material durability, maintenance complexity, and fragmented regulations. However, FPV offers an opportunity to combine clean energy generation with sustainable water management. This paper provides insights for policymakers to design supportive regulations, for engineers to enhance system reliability, and for researchers to explore innovations, thereby guiding all stakeholders in advancing FPV as a key driver of sustainable and resilient energy transitions.