You might know that (NYSE: ) focuses on oil and gas, but it looks as though renewable (read: power) is about to enter the picture, big time. Total is an integrated energy company known as an oil and gas giant in . The company focuses on refining, marketing, petrochemicals and of course, viability. Back in 2016, shares cost approximately $45 USD. It was predicted stock would rise by 20 percent. As of this writing, shares have increased to $64.19, so the 20 percent prediction has been beat. This alone makes the solar company one to check out for stock investors.

Are Solar Stocks About To Take Off?

Patrick Pouyanne, CEO of Total, stated last week that the company was prepared to build solar power plants in France – 10,000 megawatts of solar power plants, to be more precise. This would help to power more than 1.6 million homes over the course of the next decade. If this happens as planned, it will cement Total’s status as one of the largest renewable energy developers in the energy industry. Another perk is that it would have the potential to help (NASDAQ: SPWR), another big player in the solar industry, which currently sits at just under $8 per share.

France Has Big Plans to Go Solar

Like many other places, individuals and companies, France has big plans to “go solar.” A solar initiative referred to as (translated as “Place in the Sun”) has been launched, with the intention of making areas more available for solar. It is a series of 30 solar measures expected to make a more viable economic model for solar investors. In addition, it should arrange for more rooftop solar propositions. Needless to say, it is an effort intended to help the solar industry tremendously.

Toward the end of 2017, France claimed it would increase the volume of solar tenders to be bid out on an annual basis. The numbers would increase to 2,450 MW, up from 1,450 MW, through 2019. SunPower and Total have dominated these tenders thus far, and a market expansion would be wonderful news for these solar-friendly companies. Back in 2017, Total and SunPower were awarded more than 500 MW of projects, which will likely leave them as principal candidates for any upcoming projects.

The PlaceAuSoleil initiatives are projected to fast-track solar deployment in France toward a target that is up from the 8,300 MW installed presently – we are looking at 20,000 MW over the next five years.

Total: Making Aggressive Moves Toward Solar

Many have criticized major oil companies for not making enough of an effort when it comes to solar and renewable energy. Total, however, has been making aggressive moves toward solar. The deployment of 10,000 MW over the next decade is going to cost a whopping sum – roughly $1 billion each year. And this article has only looked at the projected solar investment Total will make in France, so its investment on a global scale in solar power and renewable energy could be absolutely huge. Those interested in the stock market, specifically solar companies and their potential growth, should look at what Total might end up doing.

Total: The Total Solar Package

It was announced just weeks ago that the first GW-sized PV plant might be built on approximately 1,800 hectares of agricultural land in Europe (specifically, across four French municipalities). And you guessed it: Total (through a subsidiary) is one of the energy giants interested in the solar project. The venture is currently undergoing an approval process. According to Chair of SER-SOLER, the solar commission of the French renewable energy association, and president and CEO of KiloWattsol SAS, Xavier Daval, has stated the French solar sector certainly needs volume, to include from large solar parks. Daval believes the construction of solar parks is needed, but perhaps not right now. He mentioned there are numerous options for solar PV, from carports to rooftops, and these might offer major growth volumes.

If this GW-sized PV plant ends up being built in France, it will be interesting to see how this could impact Total and other energy giants invested in solar, not to mention the impact it will have on the solar industry. Solar stocks are certainly worth taking a look at. If you’re one to stay on top of solar news and dabble in the stock market, you might consider learning more about companies such as Total and SunPower! They have a great deal of potential.

Sources:

https://finance.yahoo.com/news/france-could-propel-decade-growth-113200626.html?.tsrc=applewf

https://www.fool.com/investing/2018/07/07/france-could-propel-a-decade-of-growth-for-total-a.aspx

https://www.pv-magazine.com/2018/06/28/europes-first-gw-sized-solar-park-may-be-built-in-france/

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