Thursday, 4 May 2017

Spain to Attract Massive Investment in Renewable Energy

Spain to Attract Massive Investment in Renewable Energy

Its n wonder with over 300 days of sunshine a year
that massive investment in renewable energy is coming again
The Spanish government hardly has the best record when it comes to supporting renewable energy. While the country has some of the highest levels of solar and wind power installed in Europe, most of these were installed before 2010; before the current Prime Minister Mariano Rajoy assumed power.

The People’s Party that Rajoy leads aren’t against the idea of clean energy. The problem is that the incentives the previous government put into place for solar power were too generous; it was impossible for the government to continue justifying them.

There was a time when Spanish home-and-business-owners who installed solar panels – or even power plant operators with solar farms – were rewarded. They were offered a good feed-in tariff that saw them get some euros in return for the kilowatts of electricity their solar solutions pumped into the national grid.

It was decided in 2011 that the scheme had become perhaps too popular, with over 8 gigawatts of solar power generated by that point. It was taking too much money out of the government, especially given the economic troubles and recession at the time.

Move forward to 2017 – and the introduction of the “Solar Tax” as it was affectionately known – and Spain is ready to become clean once again. There’s plenty of good reason why too. The southern end of Spain is one of the windiest regions in Europe, as you likely know if you’ve tried to sit at the beachside bars in Cádiz. Wind power – whether onshore or offshore – is an affordable and viable source of energy for Spain.

Add in that almost the entire country ranks in the top regions of Europe with the most sunlight and it becomes clear that Spain should become a solar power hotbed again.

This idea stands to become reality on the 17th of May, as the Ministry of Energy, Tourism, and Digital Agenda of Spain will hold a renewable energy auction for three gigawatts of clean power. This basically means that companies interested in creating a solar or wind farm will be able to “bid” for large capacities. The winning bidder will be the one who offers the most competitive price for power per megawatt-hour, and will be chosen by the Spanish Electricity Market Operator (OMIE).

It’s expected that the auction will generate plenty of interest from companies; both Spanish and international. Firms from across Germany, China, South America, and the USA are expected to join all the Spanish companies trying to land contracts.

By this time next year, there will be far more wind and solar power available in Spain, built for less than the cost of coal power. This will translate into reduced bills for average consumers, and it also means that Spain will have cleaner energy and a more secure energy future.