Countries around the world are expanding their investment in the new and renewable energy industry for strengthening energy security, improving air pollution, responding to climate change, and tackling energy poverty. In Korea, with the nuclear phase-out declaration in 2017, the government has announced a policy to expand the ratio of new and renewable energy from 4.7% to 20% by 2030. This study examines a floating photovoltaic power generation system, which is a new and renewable energy source. A structure composed of high-durability steel with excellent corrosion resistance and durability was designed for constructing and installing a 500-kW-class floating photovoltaic power generation structure. In addition, the safety of the structure was verified through finite element analysis. By reviewing the safety of the structure with respect to the wave height, the behavior of the structure was confirmed through the design wave height formula proposed in the domestic standard. The verification result confirms that the stress is within the allowable design limit. Moreover, the energy production of the floating photovoltaic generation system was measured and compared with that of a terrestrial photovoltaic generation system, and that of the former was shown to be 10% higher than that of the latter.