AbstractThe concept and design of the 2 kWp polycrystalline floating photovoltaic (PV) system for agricultural irrigation purposes are presented in this paper. The well‐known major advantage of the floating PV system is its installation in the presence of water, which leads to cooling of the PV system that improves its efficiency. In addition to that, the floating PV system reduces the wastage of cultivation area required for its installation, and also, it reduces evaporation of water (for 20% of float cover) by the factor of 22.23 cm/year. But the floating PV systems face some confrontations such as low electrical reliability and reduced life of the mechanical structure due to nearby water surface. As an attempt to overcome the above issues, a small‐scale floating PV system prototype in a water reservoir at Kothavadi village, Tamil Nadu, India has been developed. The system comprises of a floater, mechanical structure, PV module, supporting anchor, under water cable, and motor. The power generated out of this proposed system is utilized for pumping the water from a nearby bore well, and pumped water is stored in the same reservoir where the floating PV system is installed. The water in the reservoir can be used by the farmer for their necessity. In this study, the energy production (month by month) is monitored. Furthermore, the economic analysis and PV modeling have been performed along with some maintenance aspects. The study helps the scientists and engineers to comprehend the performance and commercial viability of floating PV for rural farmers. It is anticipated that this work will inspire and direct farmers to install a floating PV irrigation system as a perfect alternate for the conventional systems.