Spain is expected to achieve a renewable energy milestone this year, with forecasts from Redeia, the partly-state-owned national grid operator, indicating that 50 percent of the electricity generated in 2023 will come from renewable sources. This marks an increase from 42 percent in 2022. If the forecasts are accurate, this will be the first time that Spain has achieved the 50 percent threshold.
In January, the share of renewable energy generation was almost 60 percent. It dropped to around 45 percent in February but has risen back to over 50 percent so far in March. Renewable energy not only produces lower emissions and less waste but also results in lower prices for consumers.
Renewable energy, such as water, sun, and wind-generated electricity, reduces the overall price of the megawatt-hour (MWh) in the wholesale electricity market. This is particularly important given the volatility of the market, which has caused high energy bills for Spaniards in recent years. The Secretary of State for Energy, Sara Aagesen Muñoz, emphasised the need for an intelligent energy transition that benefits both citizens and companies.
As of December 31st, 2022, Spain had installed renewable power that accounted for almost 60 percent of the total, the second-largest in the EU after Germany. However, the generation of renewable energy is subject to the availability of sun, wind, and water.
In 2022, renewables added 5.9 gigawatts (Gw) of newly installed power, with 1.4 for wind and 4.5 for solar panels.
Spain is the third-largest solar generation country in the EU, following Germany and the Netherlands. Wind turbines already account for one in four gigawatts of installed power, and solar installations were the third largest source of electrical energy in Spain.
The achievement of the 50 percent renewable energy milestone this year marks a significant step towards Spain's ecological transition and a consolidated position as the EU's renewable energy engine.
During the presentation of the reports on the Electric System and Renewable Energies in 2022, the president of Redeia (formerly Red Eléctrica), Beatriz Corredor said "We are in a good way. We have to be able to resume the course as it is set by Europe and the Government of Spain, and this year I believe that we will reach 50 percent renewables for the first time and, therefore, 2023 will be the first year of an unstoppable path towards the total decarbonisation of our country and a transcendental exercise for us to consolidate our position as the renewable engine of the European Union”.