Visitors Now:
Total Visits:
Total Stories:
Profile image
By Green Chip Stocks (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

France Sparks Renewable Energy Boom

Tuesday, November 1, 2016 16:22
% of readers think this story is Fact. Add your two cents.

(Before It's News)

This article originally was published here: https://www.greenchipstocks.com/articles/france-sparks-renewable-energy-boom/2366

franceflagA couple of weeks ago, France passed a new energy transition law that’s going to give renewable energy a huge shot of steroids.

As reported in the Scientific American, by 2030, total energy consumption in France is to be reduced by 30 percent, while the share of renewables is to more than double to 32 percent.

These are lofty goals for sure: less nuclear, more renewables, increased renovation rates for improved energy efficiency, a focus on electromobility, and even a fivefold carbon tax increase that rises progressively from a current $13.12 per ton to $50.67 in 2020 and $90.52 in 2030.

Although I tend to prefer ending overly generous subsidies for fossil fuel and nuclear power interests – as opposed to imposing carbon taxes – there’s no denying that the combination of higher carbon taxes and increases in energy efficiency and renewable energy is sending a signal to the market that there’s now another country signed on to a major energy overhaul.

The interesting part about France, however, is that it’s the country’s nuclear mix that’s going to lose out the most.

France, which is a world leader in nuclear power is looking to cut nuclear power from 75 percent to 50 percent by 2025.

While this will certainly be another blow to the nuclear space, it’s a great opportunity for renewable energy investors. Electric vehicle investors, too, as the new plan also offers more than $9 billion in the form of tax credits and zero-interest loans for folks looking to replace their old diesel-powered vehicles with electric vehicles.

Now truth be told, France is pretty cash-strapped right now, so I’m not sure how they’re going to pull this off. But even if our good friends in Paris are unable to reach these lofty goals, there will still be a lot of business generated in the process.

So which companies are likely to benefit the most from this new law?

Well, SunPower (NASDAQ: SPWR) has a lot to gain from this, as French energy giant Total S.A. (NYSE: TOT) owns 66 percent of the company.

French giant Alstom also has skin in the wind and solar game.

Outside of France, Siemens (OTCBB: SIEGY), Vestas (OTCBB: VWDRY), and GE (NYSE: GE) are all companies with a significant renewable energy presence in France.

On the electric vehicle side of things, look for Renault (OTCBB: RNLSY) to make some moves as it’s been the leader in this space in France, mostly with its Renault Zoe. The latest version by the way will deliver 150 miles on a single charge.

French environment minister Ségolène Royal, told reporters that with this law, France has adopted the most advanced legislation in the European Union. And she’s right. Whether or not France will be able to pull it off is still up for debate.

Either way, France is getting very aggressive with its clean energy transition – and this is only going to further enhance our ability to profit from the rapid integration of renewable energy on a global scale.

This article originally was published here: https://www.greenchipstocks.com/articles/france-sparks-renewable-energy-boom/2366

France Sparks Renewable Energy Boom originally appeared in Green Chip Stocks. Green Chip Stocks, your personal guide to investing in green, sustainable, alternative, and renewable energy stocks.



Source: https://www.greenchipstocks.com/articles/france-sparks-renewable-energy-boom/2366

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.