The Solar Renaissance: Spain’s Path to 81% Renewables

Time: 09:10 - 09:30

Date: Day Two

Synopsis

The Spanish government has outlined aims to achieve 81% renewable energy penetration by 2030, of which, solar PV and wind will play a huge role. The National Energy and Climate Plan (NECP) targets 6.3 GW of new annual solar installations. In 2024, a new incentive scheme was launched with a budget of USD 1.24 billion, funded by the Plan for Recovery, Transformation, and Resilience (PRTR), to boost the production of clean energy technologies.

  • In 2023, Spain installed 5.59 GW of new solar PV capacity, bringing the total installed capacity to 25.54 GW, a 28% increase on 2022 figures, which regions are leading the way?
  • There is 55 GW of projects with grid connection secured, what is the progress on these and what are the risks to delivery?
  • Rapid deployment is leading to power price cannibalization, how is that affecting project economics?
  • What are the prospects for solar+storage?

Speakers

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