Solar Power In Spain Could Mobilise €70 Bn In Investments Up To 2030

Solar power in Spain to get investments of €70 bnSolar renewable energies

Spain’s State Secretary for Energy, José Dominguez Abascal, has claimed that the solar power sector will mobilise investments of 60 to 70 billion euros to achieving the objective of 35% of renewable energy by the end of 2030. In his intervention in the V Foro Solar organised by the Spanish Solar Power Union (UNEF), Dominguez said that these figures represented “a great challenge, but also a great opportunity for development” for Spain. He reiterated that the road map for achieving this objective of 35% of renewables in Spain, above the 32% average in Europe which will be included in the National Integrated Plan for Energy and Climate will be sent to Brussels before the end of the year and estimates a path towards 2030 for installing between 50,000 and 60,000 megawatts (MW) of new green energy.

Thus he stressed that of this new capacity to be installed in the next few years “half or more will be solar energy”. “Taking into account that at the moment there is more wind power than solar power, this makes sense.” he said.

Solar power is called on to lead the global energy transmission. Last year, the world installed 98 gigawatts of new solar power capacity (FV), almost double the new wind power capacity (52).

This data coincides with the recent approval of the Law Proposal on Energy Self-Consumption, in which is recognised that all Spanish citizens have the right to produce and consume their own electricity without any kind of charge. The Law proposal bids definitive farewell to the tax on solar power which has condemned Spain to the tail end of the production of solar, clean and renewable energy.