As photovoltaic applications expand from terrestrial to aquatic environments

floating photovoltaic (FPV) systems have gained increasing attention due to their land-saving benefits and enhanced cooling effects.However

the complex operating conditions impose stricter requirements on inverters in terms of economic viability

environmental adaptability

and operational stability.This study proposes an enhanced levelized cost of energy (LCOE) model incorporating three key factors—water-environment adaptability factor (WAEF)

system stability degradation factor (Ds)

and response-cost ratio (RCR)—to evaluate inverter performance in FPV systems.Using a representative Malaysian FPV project as a case study and leveraging PVsyst simulation

we systematically compare string and central inverters in terms of system compatibility and lifecycle economic performance.Results demonstrate that string inverters outperform central inverters in power generation efficiency (3.2% lower LCOE)

operational maintenance costs

environmental resilience (higher WAEF scores)

and dynamic response capability (significantly reduced RCR).The findings provide both theoretical and practical guidance for optimal inverter configuration in FPV power plants.