Photovoltaic (PV) solar energy has a “promising future ahead” and “great potential to expand” in Spain, an industry executive said in a recent interview.
In April, renewables in Spain reached a share of 64.6 percent of total monthly generation. For the first time, three renewable technologies led the mix: wind (22.2 percent), hydro (19.7 percent) and solar photovoltaic (18.8 percent), official figures showed.
Solar photovoltaics increased production by 4.4 percent compared to the same month in 2023.
“The demand for solar energy remains high, and there is great potential to expand our business. With government policies increasingly favorable towards renewable energies, we are confident the industry has a promising future ahead,” Daniel Fernandez, co-CEO of Spanish company SotySolar, told Xinhua.
The firm, which works with European and Chinese manufacturers, began installing PV technology in Spain and Portugal in 2016.
“China provides us with products fueled by innovation, while SotySolar guarantees the expansion of photovoltaics and its brands,” Fernandez said.
Last year, Spain raised its target for reduction of greenhouse gas emissions by 2030 to 32 percent, up from a previous goal of 23 percent.
It also elevated its renewables target to 48 percent of final energy production by 2030, reaching 81 percent in electricity while improving energy efficiency to 44 percent.
However, Fernandez explained, “although more roofs are seen full of solar panels, obstacles persist such as high initial investment, lack of public awareness and regulatory complexity.”
At an industrial level, meanwhile, companies have already understood the advantages of solar power, and more power purchase agreements are being negotiated.
Fernandez said these contracts enable companies “to stop suffering from fluctuations in electricity costs, while reducing their energy costs.”
In 2023, the installation of solar photovoltaic power increased by 28 percent in Spain, bringing an additional 5,594 MW to the generation pool, the highest figure since records began, according to Spanish electricity grid operator Red Electrica.
