The worldwide transition to a future with net-zero emissions depends heavily on solar energy. However, when land prices rise, and population density rises, the need for large land expanses to develop solar farms poses difficulties. Floating Photovoltaics (FPV) has come to light as a viable remedy to this problem. FPV, which includes mounting solar panels on bodies of water, is gaining popularity as a practical choice in many nations worldwide. A significant capacity of 404 GWp for producing clean energy might be attained by using FPV to cover only 1% of the world's reservoirs. This review shows that FPV has several benefits over conventional ground-mounted PV systems. On the other hand, there is a large study void regarding the effects of FPV on water quality and aquatic ecosystems. This review looks at the most recent FPV research, including its advantages, disadvantages, and potential. It looks into the compatibility of various bodies of water, worldwide potential, system effectiveness, and the possibility of integrating different technologies with FPV.