Solar photovoltaic (PV) technology is one of the most widely used renewable energy sources, generating electricity without producing greenhouse gas emissions. Over the past few decades, PV technology has seen widespread adoption due to technological advancements and continuously reducing costs. Traditionally, PV panels are mounted on terrestrial installations, including rooftops, agricultural fields and utility-scale solar farms. Although terrestrial PV systems perform well and are relatively scalable, they are still facing problems with land use and environmental pollution. As a result of these constraints, floating solar photovoltaic (FPV) systems have come to the fore as a viable alternative. Aquatic systems, such as lakes, reservoirs and coastal areas, can effectively utilise their surface area for the deployment of solar energy panels. This will also help to reduce land cost and water evaporation and improve overall energy efficiency, among other advantages. FPVs also have the potential to diversify and fulfil energy requirements since they liberate property in populated regions for additional crop usage. Thus, the potential scalability of FPVs is also extremely relevant towards climate and energy security objectives. FPV is still a new concept requiring thorough feasibility and performance-degradation studies to improve its uptake.