Between October 2023 and September 2024, electricity consumption was met by renewables at a rate of 56.8%. The contributions from solar and hydroelectric power were crucial. Excluding the effects of weather (the last year has been particularly rainy), the figure still stands at 54%
In the last 12 months, the share of electricity generated from renewable sources in Spain has consistently remained above 50%. This is a record for the Iberian country, which last week formally approved its updated Integrated National Energy and Climate Plan (NECP), one of the most ambitious in Europe. This was reported by the Association of Renewable Energy Companies, Appa Renovables.
Electricity from renewable sources: Spain’s record
The moving average for the past year, from October 2023 to September 2024, sets the share of electricity from renewable sources at 56.8%. Considering only the months of 2024, this figure rises to 57.5%. This is a “significant” increase, emphasizes Appa, due to two main factors.
On one hand, there has been a surge in solar energy (+22.3%) achieved thanks to increased installed capacity. In 2023, Spain added a substantial 7.7 GW, bringing the total cumulative capacity to 37.6 GW and surpassing Italy. These figures are already slowing compared to 2022 and are expected to decline further in 2024. However, they are substantial enough to contribute to the record renewable electricity generation.
On the other hand, the increase is attributed to hydroelectric generation (+67.5%). This growth is primarily due to the exceptionally rainy 2024. However, the increase is expected to last. When adjusting the data to account for the exceptional rainfall in 2024, renewable sources are projected to cover 54% of electricity consumption, four percentage points higher than in previous years.
Is this in line with the objectives of the PNIEC?
The Integrated National Energy and Climate Plan (NECP), approved last week, sets the target of 81% of electricity production from renewable sources by 2030, with an installed capacity of 76 GW of solar photovoltaic, 62 GW of wind, 4.8 GW of solar thermal, and 1.4 GW of biomass. The share of renewables in final energy consumption is set at 48%. From 2025 to 2030, Spain must install nearly 12.5 new GW of renewables each year to meet the PNIEC objectives.
Appa Renovables emphasizes the forecast for electricity demand, which is projected to reach 358 TWh by 2030, or 34% higher than the current level. It highlights the need for concrete interventions for electrification and to provide more flexibility. Equally important will be the pathway to achieve the storage target set by the NECP at 22.5 GW. “The sector is awaiting specific regulations that will attract investments and develop storage in Spain, which will be essential for integrating the expected renewable capacity in the coming years,” concludes the association.
