Accelerating the Transition to Renewable Energy in Spain
Venture Building
Solar energy has a big role to play in furthering the transformation towards a more sustainable world. In a context of energy prices going up and possible recession, solar energy can also help consumers and businesses reduce their spending while they join in the efforts to transition to renewable sources.
Solar energy in Spain is set to rapidly surge in the next eight years, demonstrating the effectiveness of national leadership combined with local flexibility and cooperative business models. The result is a country making headway towards its target of generating 74 percent of its electricity from renewable sources by 2030 and 100 % by 2050.
A variety of policy changes at a national level and the legislative flexibility in Spain afforded to devolved local authorities, solar energy cooperatives have blossomed throughout the country. In addition, high energy prices dramatically reduce the payback time of installing solar systems and local communities push ahead with becoming energy self-sufficient.
In fact, Spain has the highest solar yields in the EU and good availability of land. Strong market fundamentals have made Spain the most attractive market in the world for renewable energy power purchase agreements, according to a report by consultancy EY in October 2021.
After a couple of hundred solar systems installed we are expanding operations to other regions. In addition we are looking to enrich the value proposition to cope with a maturing demand that is looking for alternatives to owning the solar installation.
Spain has the highest solar yields in the EU and good availability of land. Strong market fundamentals have made Spain the most attractive market in the world for renewable energy power purchase agreements
EY, 2021
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