Northbrook, IL 60062 -- (SBWire) -- 11/22/2023 --The growth of the battery energy storage system market in France is driven by strong emphasis on transitioning to cleaner and more sustainable energy sources, including a substantial focus on expanding renewable energy capacity, which creates a pressing need for energy storage solutions to manage the intermittency of sources like wind and solar power.
The Government of France aims to achieve diversified electricity production and reduce the share of nuclear power to 50% by 2025, while also reducing the emission of greenhouse gases by 40% by 2030. Additionally, the country has stated its vision of deploying 7 million electric vehicle charging outlets by 2030, that will increase the growth of electric vehicles and their integration into the energy ecosystem also contributes to the demand for energy storage in France, making it a thriving market for battery energy storage solutions.
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The battery energy storage system (BESS) market in France is poised for significant growth, driven by several factors. The country's ambitious renewable energy targets, which call for a 33% share of renewable energy in electricity consumption by 2030, are creating a strong demand for BESSs to integrate intermittent renewable energy sources into the grid. Furthermore, the increasing demand for grid stability and energy security, as well as the growing popularity of electric vehicles (EVs), are also contributing to the growth of the BESS market in France.
Opportunity: Reduction in prices of lithium-ion batteries
There has been a notable decline in the cost of lithium-ion batteries, driven by advancements in technology, economies of scale, and increased manufacturing efficiency. This price reduction has made battery energy storage systems more affordable and accessible for various applications. The lower cost per kilowatt-hour (kWh) of energy storage enables businesses to invest in larger and more robust systems, ensuring they have sufficient capacity to meet their power needs during outages or peak demand periods. Moreover, the reduction in prices of lithium-ion batteries is having a major impact on the growth of the BESS market. This is because lower battery prices are making BESS more affordable, more competitive, and a more attractive solution for ensuring reliable and uninterrupted power supply.
Challenge: Difficulties pertaining to installation of battery energy storage systems in remote and isolated locations
Installing battery energy storage systems in remote areas can be challenging due to the limited or unreliable availability of grid power. Establishing a reliable power source for the initial installation and subsequent maintenance activities may be necessary, which could involve alternative energy sources like solar panels. Moreover, providing regular maintenance and servicing for battery energy storage systems in remote areas can be difficult due to the lack of local service providers and limited access to spare parts. Subsequently, remote, and isolated locations may have harsh environmental conditions, such as extreme temperatures, high humidity, or corrosive atmospheres. These conditions can impact the performance and lifespan of the battery system and require additional measures for protection and durability.
France Market to Grow at 20.3% in Battery Energy Storage System Market