How the floating solar industry will improve

Interest in floating solar power and its development has surged in recent years. The technology has enormous potential but is still in its infancy – particularly when it comes to solar installations in salt water. This creates significant opportunities for technology company Sunlit Sea, which develops solar panels specifically designed for marine environments.

'Floating solar power has enormous energy potential. Our goal is to deliver the best solution for inshore floating solar. Our construction method gives us an advantage because we have paid particular attention to cooling and water ingress,' says Per Lindberg, founder and CEO of Sunlit Sea.

'It is an incredibly exciting industry, with a technology race like no other,' says Lindberg, who has spent his entire career in solar energy. His experience ranges from the industrial production of solar cells and the installation of solar panels to research into next-generation solar cell materials.

'It has given me a comprehensive understanding of the solar energy industry, and I can see what it takes to design an efficient product,' he says.

In 2021, the company received NOK 8.4 million through our Environmental Technology Scheme. We have supported the company from the outset, providing grants, loans and advisory at various stages in partnership with its owners and investors.

'Without the support, we would not exist today. Innovation Norway has introduced us to relevant contacts, helped with promotion and been a valuable sounding board. It has been a constructive and effective partnership that has also been extremely valuable to us,' says Lindberg.

Much of the funding has gone towards understanding the electronics, how the panels move and the best way to install them.

Our financing adviser Roger Hatling praises the company's expertise and technology solution, and believes this is good news for Norway's solar power industry.

'There is a huge global need for renewable energy. Offering efficient and robust offshore solar technology, rather than using more expensive or less accessible land, could help accelerate the transition from fossil fuels to renewable energy. Sunlit Sea has strong core expertise and a solid network which, combined with its technology, will enable significant value creation and competence building in Norway through this project,' says Hatling.

One of the main challenges with floating solar is that the technology remains costly. Sunlit Sea's solution therefore includes reducing costs by prefabricating complete strings of floats fitted with solar panels. This will improve quality control, speed up the construction of power plants and lower electricity prices.

'Floating solar power is well suited to prefabrication because the marine areas where the systems will be installed are broadly similar, unlike sites for land-based solar power plants,' Lindberg explains.

We develop all the power electronics and sensors for the panels in-house, while prefabrication means fewer people are needed to launch the panels, which in turn reduces costs. The product is also designed for efficient cleaning.

The company is currently working on its fifth prototype, which will, among other things, verify how much electricity the system generates in choppy waters.

'We are working hard to ensure we can deliver on our power generation guarantees,' says Lindberg.

Sunlit Sea targets a global market, with South-East Asia, Central America and other equatorial regions offering the greatest potential. The company is currently in the product development phase and expects projects to begin scaling up in 2024.

‘Going forward, we will continue to build networks. Norway has extensive expertise and experience in both offshore operations and, more recently, solar power. We believe Norwegian industry has great potential in floating solar power.’

Read more about how Sunlit Sea presents its solution to international audiences on Business Norway.