Solar trackers are widely used in photovoltaic power plants to enhance the efficiency of photovoltaic systems by improving the ability of PV modules to capture solar radiation. This study provides a comprehensive analysis of a 2 \({\hbox {MW}}_P\) floating solar photovoltaic (PV) system, focusing on various tracking technologies. It aims to evaluate the efficiencies and losses in floating solar PV systems and offers insights into performance variations among different configurations for optimizing energy generation, utilizing PVsyst software. The comparison of seasonal adjustable tracking (SAT), horizontal single-axis tracking (HSAT), and dual-axis tracking (DAT) reveals that DAT outperforms the other configurations, yielding energy gains of 4.59%, 7.34%, and 21.32% over fixed tilt (FT), SAT, and HSAT, respectively. The study explores monthly variations in capacity factors and energy yields, highlighting the impact of seasonal changes on different plant configurations. Analysis of energy losses considers factors such as irradiance, temperature, and module quality, which affect overall system efficiency. Monthly average parameters assessed include capacity factor, performance ratio, array yield, final yield, reference yield, array capture losses, system losses, PV module efficiency, and system efficiency. The monthly energy production for the FT, SAT, HSAT, and DAT plants was 2133.7 MWh, 2236.5 MWh, 2302.8 MWh, and 2711.6 MWh, respectively. The DAT plant’s total energy production surpasses that of the FT plant by 27.08%. The daily average final yields were 2.92, 3.06, 3.15, and 3.71 kWh/kW/day for the FT, SAT, HSAT, and DAT plants, respectively. The DAT plant also demonstrates a 14.49% higher capacity factor and a 11.13% higher performance ratio compared to the FT plant, with PV module efficiency and system efficiency exceeding those of the FT plant by 2.58% and 2.86%, respectively. These findings underscore the superior performance of the DAT plant in overall efficiency and energy generation.