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Summary of our market study
The French solar panel market is estimated at between €1.2 and €1.4 billion.
The global solar panel market has experienced very strong growth. Worldwide installed photovoltaic (PV) capacity reached 728 GW in 2020, and is expected to reach 1645 GW in 2027.
Investment in the solar industry has reached $240 billion in 2022, a 40% increase on 2019.
Solar capacity in China is four times greater than in the United States, and Chinese manufacturers occupy 9 of the top 10 positions worldwide. Chinese companies such as JinkoSolar.
In France, solar power will account for just 6% of the energy mix by 2024, but is aiming for an ambitious expansion of its photovoltaic installations to reach 40 GW by 2028.
The price of solar panels from China has collapsed, and has been divided by three in just a few years.
French market trends
The French solar panel market has experienced significant growth since the early 2020s, thanks to strong government support in the form of subsidies, tax incentives and feed-in tariffs. In 2024, French government feed-in tariffs continue to support the industry, offering a fixed rate for electricity generated by solar energy systems. These tariffs have fallen from 46 c€/kWh in 2011 to around 12 to 14 c€/kWh.
At the start of 2020, France passed the 10 GW mark in installed capacity, and by 2022 this figure had risen to 15.7 GW. The national target is 40 GW by 2028.
Solar power, still a minority energy source.
Small installations of less than 3 kW will account for over 60% of new installations in 2022.
The market is also witnessing the emergence of hybrids, such as the Spring hybrid solar panel, which can produce both electricity and heat.
Players in the French solar panel market
- SunPower, a pioneer in solar technology.
- JinkoSolar and Long other Chinese leaders
- Solarwatt is a European manufacturer
- Greenyellow, a provider of sustainable energy solutions.
- Meyer Burger, a Swiss company and European leader
- Systovi, a French company in great difficulty
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Summary and extracts
1 Market overview
1.1 Definition and scope of study
Solar panels are designed to recover energy from the sun's rays and transform it into either electricity or heat. There are two types of solar panel: photovoltaic panels, which generate electricity, and thermal panels, which produce heat.
The solar panel market is booming. Although still a minority energy source, solar power has been growing steadily in France since 2010: installed capacity officially surpassed the symbolic 10 GW mark at the start of 2020 , reaching 15.7 GW in 2022. According to national targets, it should reach 40 GW by 2028. With sustainable development at the heart of today's concerns, solar power is one of the renewable energies of the future. As such, investment in new photovoltaic installations is substantial.
The sector is greatly boosted by the special role played by the French government, which intervenes in this market through subsidies, tax breaks and buy-back obligations for the photovoltaic electricity produced. Despite the arrival of new French and European start-ups, whose offerings reflect the trend towards hybrid and digital technologies, the French sector (and the European sector in general) is still in a state of flux.despite the entry of new French and European start-ups, whose offerings reflect trends in hybrid and digital technologies, the French (and more broadly the European) solar panel sector is heavily dependent on Chinese supply, where competition has intensified in recent years.
Finally, the effects of the current health crisis will be of interest in the long term. While the crisis has led to a slowdown in the market in 2020-2021, it has also helped to reinforce French interest in sustainable development and alternative energies.velopment and alternative energies, and demonstrated the resilience of solar installations in the face of collapsing electricity prices.
1.2 The global market
The global solar panel market represented ** billion euros in **** and is expected to grow at a CAGR of **.**% to reach **.** billion euros in **** [***].
Global solar panel market World, ****-****, in billions of dollars Source: ****
Worldwide installed solar photovoltaic capacity was *** GW in **** and is expected to reach **** GW in ****. According to ...
1.3 The domestic market
Overview of energy in France
In April ****, France's electricity mix was still largely dominated by nuclear power, which accounted for **% of total generating capacity (***).
French energy mix France, ****, in % of total Source: ****
Breakdown of electricity generation by source France, ****, in Source: ****
Since ****-****, the photovoltaic sector in France has seen strong ...
1.4 Foreign trade
This section considers data for the ******** customs code entitled "Photovoltaic cells assembled into modules or made up into panels".
In ****, exports for this customs code totaled ***.*** million euros, up *.*% on ****.
Imports of solar panels France, ****-****, in millions of euros Source: ****
The main country to which France exports is Italy by ...
1.5 The impact of Covid-19: short-term slowdown, long-term windfall
Globally, the industry has not been spared by the health crisis. A survey of industry players carried out in April **** by the Solar Power Europe organization highlighted a decline in orders for **% of the companies questioned. Among the companies, **% were observing a decline in orders of up to **% and **% between ** and ...
2 Demand analysis
2.1 Demand segments
Demand for photovoltaic panels can be segmented into five categories, differentiated by the production capacities each requires.
Domestic installations, the segment that concentrates all demand with a capacity of less than * kW. Medium-sized rooftops, with demand ranging from * to *** kW and installed on roof surfaces of less than *,*** m*. Large roofs, ...
2.2 Uneven demand across France, dependent on climatic conditions
The use of solar panels is of course highly dependent on climatic conditions, and as such, demand is very uneven across France. Indeed, there is a marked difference in photovoltaic potential between the different regions of France, with maximum potential in the south and especially the southeast[***].
Source: ****
As a result, ...
2.3 The French and solar energy
Overall, the French are very confident in renewable energies. For example, **% have confidence in solar combisystems, and **% in heat pumps. As for photovoltaic panels, the confidence index is **%; while this is still high, it is nevertheless one of the lowest figures among the various renewable energies. [***]
French confidence in various renewable ...
2.4 Focus on agrivoltaics
Agrivoltaics is the practice of combining solar energy production and agriculture on the same plot of land. This is usually done by installing solar panels on top of existing crops, or by integrating crops between the solar panels. The aim of agrivoltaics is to maximize the use of agricultural land by ...
3 Market structure
3.1 Structure of the French photovoltaic industry
Photovoltaic companies in France
In ****, France will have **,*** jobs in the photovoltaic industry.
The number of jobs fell steadily from **** to ****, then rose again. The year **** will see the number of jobs soar: this is mainly due to the massive investments made by the state and private investors in the sector ...
3.2 The value chain
Manufacturing
There are several different types of solar panel manufacturer:
Specialized manufacturers: for example, Sunpower, a pioneering company considered to be the most advanced in the solar panel market. Another example is China's JA Solar, established in **** and a major player on the market. International electronics players: LG is particularly dynamic ...
3.3 China, a global super-competitor
China is the hegemonic leader of the global photovoltaic market. In ****, China alone accounted for **% of global photovoltaic production and **% of growth in renewable energies. By ****, its installed solar capacity will be four times greater than that of the world's second largest player, the United States. The global Chinese market continues ...
4 Offer analysis
4.1 Different technologies
Photovoltaic solar energy
There are a number of different photovoltaic technologies at different stages of development:
Crystalline silicon (***): Solar panel cells are made of silicon, extracted from sand or quartz. Silicon can be monocrystalline or multicrystalline, depending on the production method; monocrystalline silicon is more expensive to produce but offers better ...
4.2 The cost of solar panels
Photovoltaic solar power
In ****, the total cost of photovoltaic solar panel installations will vary according to many criteria, but here is an indicative price range:
Installation of *kWp solar panels for self-consumption: the total price can range from €*,*** to €**,*** incl. VAT
Most of this expense is due to the price of ...
4.3 Trends: hybrid solar panels (photovoltaic and thermal) and digital technology
Hybrid solar panels
A few years ago, the French company Dual Sun launched the Spring hybrid solar panel. This panel's hybrid technology enables both electricity and heat to be produced from the same solar panel. The thermal part of this solar panel incorporates *** channels to allow water to circulate through the ...
5 Regulations
5.1 Feed-in tariffs for photovoltaic electricity
To encourage the installation of solar panels, the French government has set up a system of compulsory purchase of photovoltaic electricity (***).
In addition, the income generated by the resale of photovoltaic energy is not taxed. Photovoltaic feed-in tariffs are revised quarterly by the French energy regulator, the Commission de Régulation ...
5.2 Taxation and state aid
The Energy Transition Tax Credit (***)
The CITE is a French government subsidy for energy-efficient insulation, and is therefore applicable to thermal, hybrid and aerovoltaic solar panels, among others. It allows a tax deduction of **% on the equipment.
Reduced VAT for solar installations
The installation of photovoltaic panels is subject to a ...
5.3 Focus on French government aid for solar panel installation in the agricultural sector
There's plenty of government support available for farmers wishing to install photovoltaic panels on their land. According to Liight, electricity costs account for **-**% of a farmer's budget, so reducing these costs is no mean feat. These include
Self-consumption with sale of surplus: Self-consumption is a good option for gaining energy ...
6 Positioning the players
6.1 Segmentation
- Solarwatt France
- SunPower
- JinkoSolar
- Green Yellow
- Voltec Solar
- Voltalia
- CETIH
- Holosis
- France Solar
- Créawatt
- Reden Solar
- VSB Energie Nouvelles France
- TSE Energy
- Engie Green (Engie groupe)
- Dracula Technologies
- LONGi
- Mylight Systems
- MyLight150
- We Recycle Solar
- Photosol (Rubis groupe)
- Giudicelli Groupe Voltaïca
- Verlaine Groupe
- Dualsun
- Exasun
- Energetica
- Heckert Solar
- Systovi
- Corsica Sole
- See You Sun
- AdiWatt Caillau
- First Solar
- Recom-Sillia
- Energies de Loire
- Solewa
- Carbon Solar
- Entech
List of charts presented in this market study
- World solar panel market
- New investments in solar energy
- Net installed renewable energy capacity
- Installed photovoltaic capacity in Europe
- Primary production of renewable energies by sector
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Latest news
Solaire : Solewa déploie son pilote d'autoconsommation collective en Vendée - 27/06/2024
- Le spécialiste des installations photovoltaïques pour les professionnels des secteurs agricoles, industriels et tertiaires
Corsica Sole generates electricity on Réunion's vanilla plantations - 26/04/2024
- - **Year Corsica Sole began its solar business**: 2009.
- - **Corsica Sole sales 15 years later**: 35 million euros.
- - **Investment made by the Corsican group in La Réunion over the past eight years**: 10 million euros.
- - **Capacity of the electricity storage unit built on La Réunion**: 10 MWh.
- - **Year of creation of the Pro-Vanille cooperative**: early 1950s.
- - **Total number of shaded areas built on La Réunion**: 6.
- - **Installed power per installation**: 100 Kilowatt-peak.
French solar panel manufacturer Systovi to cease operations due to Chinese dumping - 17/04/2024
- Systovi, founded in 2008, has 87 employees.
- - France has added 3.2 GW (gigawatts) of additional solar production capacity in 2023, following an increase of 2.7 GW in 2022, for a total of 19.3 GW.
- - The French government's objective is to double the rate of deployment of solar power capacity by 2030.
- - The government is also aiming for France to produce 40% of the photovoltaic panels it uses by 2030.
- - France's solar production target has been brought forward to 2035, to reach 100 GW, instead of 2050.
- - Systovi achieved sales of 21.5 million euros in 2023.
Systovi plays for its future against the Chinese steamroller - 14/03/2024
- - Only two French manufacturers of photovoltaic panels in existence: Systovi and Voltec Solar.
- - Systovi has 87 employees.
- - Systovi was founded in 2008.
- - In 2016, the Cetih group acquired a 95% stake in 2018.
- - Cetih posted sales of 300 million euros with 1,500 employees in 2022.
- - Cetih has invested nearly 45 million euros in Systovi.
- - By 2023, Systovi has increased its capacity to 200,000 panels per year, equivalent to 80 megawatts installed.
- - For the year ended August, Systovi posted sales of 21.5 million euros, compared with 12 million the previous year.
- Order intake rose by 50%.
- - The price of Chinese products is four times lower than Systovi's.
- - There are seven panel manufacturers in Europe.
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