Solar PV to Continue as a Major Renewable Energy Source in France
The French government has announced plans to boost the country’s renewable energy market and make France a world leader in PV technology. The aim is to meet the country’s target of generating 23% of its total electricity from renewable sources by 2020. It is expected that the solar PV market in France will grow from an estimated 6.5 GW in 2015 to reach a cumulative capacity of 9.8 GW by 2020. Solar PV capacity additions during 2013 decreased due to cap of 0.5 GW for cumulative solar PV capacity per quarter. Breaching the capacity cap leads to higher degression rates in the FiTs.
Government Support in Conjunction with Technology Development Driving Global Renewable Power Installations
Security of energy supply and energy independence, combined with the need to minimize carbon footprints is driving countries across the world to explore different renewable energy technologies such as wind, solar, bio power and geothermal. The growth of renewable power has gained momentum in the last decade, helped by a supportive policy and regulatory framework, a reduced cost of renewable electricity generation through technological advances, rising electricity demand, energy security, and environmental concerns. Policy targets for renewable energy have been formulated in more than 100 countries worldwide. As a result, renewable energy technologies have seen significant market deployment in certain countries. Wind, solar and several forms of advanced biopower have gained importance and have been commercialized for over the last decade. They not only utilize locally available resources but also offset costly fuel imports and are environmentally beneficial. Renewable energy sources reduce carbon footprints, provide diversification to a country’s energy mix, and create sustainable employment opportunities. These factors propelled the global renewable power capacity from 1,095.72 GW in 2006 to 2,083.67 GW by end of 2015.
Onshore Wind power has overtaken Small Hydro to become the largest Renewable Energy Source in France
As of 2015, about 50% of the renewable capacity was onshore wind power and more than 30% was solar PV. While offshore wind power is not expected to come into existence until 2019, biopower and small hydro had small contributions to the cumulative installed renewable power capacity. By 2030, the renewable power capacity is expected to grow to 49.6 GW with onshore wind still holding more than 50% share.
GlobalData’s “Solar Photovoltaic (PV) in France, Market Outlook to 2030, Update 2016 – Capacity, Generation, Levelized Cost of Energy (LCOE), Investment Trends, Regulations and Company Profiles” offers comprehensive information and understanding of the Solar Photovoltaic (PV) market in France. The report provides in depth analysis on global renewable power market and global Solar Photovoltaic (PV) market with forecasts up to 2030. The report highlights installed capacity and power generation trends from 2006 to 2030 in France Solar Photovoltaic (PV) market. A detailed coverage of renewable energy policy framework governing the market with specific policies pertaining to Solar Photovoltaic (PV) is provided in the report. The research also provides company snapshots of some of the major market participants.
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