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France Solar Energy Market Size (2024 - 2029)

The France solar energy market is projected to experience significant growth over the forecast period, driven by increasing demand for clean energy solutions and investments in solar energy capacities. Despite the challenges posed by the dominance of nuclear power in electricity generation, the market is expected to expand, with the solar photovoltaic segment leading due to rising installations. France's commitment to sourcing a substantial portion of its energy from renewables, particularly solar, by 2030 is anticipated to further enhance the market's potential.

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Market Size of France Solar Energy Industry

France Solar Energy Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Volume (2024) 22.96 gigawatt
Market Volume (2029) 44.68 gigawatt
CAGR (2024 - 2029) 14.24 %
Market Concentration Medium

Major Players

France Solar Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

France Solar Energy Market Analysis

The France Solar Energy Market size is estimated at 22.96 gigawatt in 2024, and is expected to reach 44.68 gigawatt by 2029, growing at a CAGR of 14.24% during the forecast period (2024-2029).

The COVID-19 outbreak in Q1 of 2020 had a major impact on energy systems around the country, curbing investments and threatening to slow the expansion of key clean energy projects. Factors such as rising demand for clean energy solutions, increasing investments, and expansion of solar energy capacities are expected to be major drivers for the France solar energy market during the forecast period. However, the widespread generation of electricity from nuclear power is expected to be a major restraint on the growth of the French solar energy market.

  • The solar photovoltaic (PV) segment is expected to dominate the market during the forecast period, owing to increasing solar PV installations across the country.
  • France aims to produce 33% of its total energy from renewables, especially solar energy by 2030. This is expected to create opportunities for the France solar energy market during the forecast period.
  • Electricity generation from nuclear energy is expected to restrain the French solar energy market during the forecast period.

France Solar Energy Industry Segmentation

Solar energy is heat and radiant light from the Sun that can be harnessed with technologies such as solar power (used to generate electricity) and solar thermal energy (used for applications such as water heating). The solar energy market is segmented by type and PV deployment. The market is segmented by type into solar photovoltaic (PV) and concentrated solar power (CSP). By PV deployment, the market is segmented into rooftop and ground-mounted. The market sizing and forecasts for each segment have been done based on installed capacity (GW).

Type
Solar Photovoltaic (PV)
Concentrated Solar Power (CSP)
PV Deployment
Rooftop
Ground-mounted
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France Solar Energy Market Size Summary

The France solar energy market is poised for significant growth, driven by increasing demand for clean energy solutions and substantial investments in solar energy capacities. The solar photovoltaic (PV) segment is expected to lead this expansion, supported by government initiatives and ambitious targets to enhance renewable energy production. France aims to generate a substantial portion of its energy from solar sources by 2030, creating numerous opportunities for market growth. However, the dominance of nuclear power in France's energy mix poses a challenge, as it continues to be a major source of electricity, potentially restraining the growth of solar energy. The government's strategic plans, including the Multi-Year Energy Program and various tenders, are designed to accelerate solar PV installations, further bolstering the market's development.

Despite the promising outlook for solar energy, France's reliance on nuclear power remains a significant constraint. The country has a long-standing history of nuclear energy production, which accounts for a large share of its electricity generation. This high dependence on nuclear energy, coupled with its cost-effectiveness and reliability, presents challenges for the solar energy market. Nonetheless, the French government is actively working to reduce nuclear's share in the energy mix, aiming for a more balanced approach by 2035. The solar energy market in France is moderately consolidated, with key players like Engie SA, EDF Renewables, and TotalEnergies SE playing pivotal roles in its development. Recent developments, such as the acquisition of HoloSolis and new solar PV projects, indicate a robust pipeline of activities aimed at enhancing solar energy capacity in the country.

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France Solar Energy Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Solar Energy Installed Capacity and Forecast in GW, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Solar Photovoltaic (PV)

      2. 2.1.2 Concentrated Solar Power (CSP)

    2. 2.2 PV Deployment

      1. 2.2.1 Rooftop

      2. 2.2.2 Ground-mounted

France Solar Energy Market Size FAQs

The France Solar Energy Market size is expected to reach 22.96 gigawatt in 2024 and grow at a CAGR of 14.24% to reach 44.68 gigawatt by 2029.

In 2024, the France Solar Energy Market size is expected to reach 22.96 gigawatt.

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