French Polynesia energy storage bloomberg

Does French Polynesia rely on hydrocarbons?

French Polynesia, like most island territories, is highly dependent on hydrocarbon imports. In 2019, 93.8% of energy consumed in the archipelagos came from imports of various petroleum-based fuels. The renewable energy penetration rate in power generation stood at 28.78% in 2019. This figure has remained stable over the last five years.

What is French Polynesia's energy transition plan?

French Polynesia’s energy transition plan has three main objectives: Change the energy model, by gradually replacing the use of fossil fuels with renewable energies in all activities

Which country has the most energy storage capacity?

The Americas region represents 21% of annual energy storage capacity on a gigawatt basis by 2030. The US is by far the largest market, led by a pipeline of large-scale projects in California, the Southwest and Texas. The US has a seen a wave of project delays due to rising battery costs.

Which countries are promoting energy storage?

Japan’s federal and local governments announced annual subsidy programs for utility-scale batteries, while South Korea set a 25GW/127GWh storage target by 2036. India is taking steps to promote energy storage by providing funding for 4GWh of grid-scale batteries in its 2023-2024 annual expenditure budget.

Who are BNEF's energy storage experts?

In this AskBNEF session, Helen Kou and Sonny Zou, two of BNEF's energy storage experts, will join Albert Cheung, Head of Global Analysis, to discuss the outlook for stationary energy storage costs and implications for market participants.

How is India promoting energy storage?

India is taking steps to promote energy storage by providing funding for 4GWh of grid-scale batteries in its 2023-2024 annual expenditure budget. BloombergNEF increased its cumulative deployment for APAC by 42% in gigawatt terms to 39GW/105GWh in 2030.