France Distributed Solar Power Generation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
Distributed solar power generation is the generation of power from solar energy for personal use. The energy produced is not sent to a centralized grid rather is used directly in households, industries, and commercial centers.
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Key Market Trends
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2016 - 2026
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France distributed solar power generation market is expected to grow at a CAGR of more than 12% during the forecast period of 2020 – 2025. Factors such as rising environmental concerns and high cost of grid expansion are expected to be major drivers driving the market. Also, advancement in technology leading to solar panel manufacturing cost reduction and increase in efficiency has been a major factor for the growth of France's distributed solar power generation market. However, the widespread generation of electricity from nuclear power in the country has somewhat hampered the growth of the market.
The gradual shift from energy generation from conventional sources such as coal and natural gas to clean energy is expected to help grow France distributed solar power generation market.
Commercial and industrial sectors are showing a growing interest in distributed solar power generation due to various economic benefits and a constant source of energy to eliminate downtimes and equipment damage due to voltage fluctuations in conventional power grids. This has created a huge opportunity for distributed solar power generation market in the region.
France is expected to witness significant growth in the forecast period, over rising environmental concerns, and economic benefits of domestic distributed solar power generation.
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Key Market Trends
Increasing Demand for Clean Electricity to Drive the Market
Increasing demand for clean energy is one of the primary drivers for the distributed solar power generation market in the country. The country has one of the highest electricity generation from nuclear energy in the world just behind the United States, with over 71% of electricity produced from nuclear energy, in 2018.
Rooftop solar offers the benefits of modern electricity services to households that had no access to electricity, reducing electricity costs on islands and in other remote locations that are dependent on oil-fired generation, as well as enabling residents and small businesses to generate their own electricity.
Commercial and industrial systems are expected to become the largest growth segment because they are usually more inexpensive and have a relatively stable load profile during the day that can enable larger savings on electricity bills, depending on the policy scheme in place.
Therefore, the aforementioned factors are expected to drive the market in the forecast period.
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Electricity Generation from Nuclear Energy to Restraint the Market
France is the world’s second-largest nuclear electricity producer after the United States. The country produced over 413.2 TWh of electricity from nuclear power, in 2018.
The country has a history of over a decade of electricity generation from nuclear energy starting before 1960. The country has over 57 nuclear reactors spread over the country.
Nuclear Energy maintains an edge over other forms of energy generation energy resources in the country due to the long-standing policy based on energy security. France’s total nuclear capacity stands at 62.3 GWe.
Therefore, the cheaper electricity generation from nuclear energy and more reliability on nuclear energy produced electricity is expected to be the major restraint of the distributed solar power generation market in the country.
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France distributed solar power generation market is partially consolidated. Some of the major companies are ENGIE, Sunpower, EDF EN, Saint Gobain, and Wagner Solar among others.