MADRID, 25 October (.) – Renewable energy will increase net savings for electricity systems by 41% in 2023, reaching an all-time high of €9.575 billion. This makes Spain almost an island of energy.
These are the conclusions of the Study on the Macroeconomic Impact of Renewable Energy in Spain, produced by Deloitte and published this Friday by Apa Renovables and the Spanish Energy Club, which shows that last year’s decline in electricity prices has led to a decline in the sector. reflects how it has reduced the contribution of The percentage of GDP will be up to 16.495 billion euros, the third highest after 2022 and 2021.
The past two years have been marked by inflation and rising energy prices. In general, the renewable sector accounted for 1.13% of the country’s GDP in 2023.
On the other hand, the installation rate slowed slightly. Installed solar PV sold to the grid increased by 1 gigawatt or GW year over year, but captive consumption reduced annual installed power by 27% and wind energy cut installed capacity in half.
This situation affected employment in the renewable energy sector, which decreased by 2.5% to 127,576 people.
Record your net savings
The milestone of 50.4% renewable electricity share marks 2023, and these energies saved the system €12.745 billion due to negative effects on the wholesale market. This, combined with a reduction in regulatory fees due to the removal of wind and hydro energy from the incentive scheme, resulted in net savings reaching a historic high of 9.575 billion.
Including biofuels and thermal renewables, renewable energy avoided imports of 25 million tonnes of carbon equivalent (21.4 million tonnes in 2022). This saved 15,622 million euros in fossil imports.
Price and demand, industry concerns
In his speech, Apa Renovables President Santiago Gómez highlighted the current imbalances, such as the mismatch between supply and demand, and the fact that the latter continues without proportional growth as renewable energy capacity is added to the supply. expressed the industry’s “concerns” about this. system.
On the other hand, there are “divergences” in the development of different renewable technologies, and a “strong commitment” to solar power and self-consumption, which may even compete with each other.
The association cited “challenges” posed by the National Energy and Climate Change Plan, known as Pniec, which includes a target to increase electricity consumption by 34%. A goal that is “as ambitious as it needs to be”, finding a “challenge” in energy efficiency.
“We are always aiming to become more efficient in the use of electricity, and efficiency reduces electricity consumption,” Gomez explained, adding that the increase in demand will be accompanied by a “resolute commitment to electrification and re-industrialization of the country.” He asserted that it is necessary to take measures to attract electric power. necessary investment.
Another aspect to consider is price. Appa Renovables estimates that 10% of its opening hours will be closed this year at zero or negative prices, and around 1,800 more hours will be closed at prices ranging from zero to 10 euros.
Investments in renewable energy are at “inadequate” levels to be profitable, which could hinder the ability to finance future projects.
As of now, the average electricity price in 2024 is around 53 (MWh), and this year had the lowest monthly price of the entire series in the past at $13.67 in April, which is a very high renewable energy Consistent with production and restrained consumption.
“Without progress in developing storage, demand flexibility and a balanced renewable energy ‘mix’,” he said, “what seemed like an anomaly in April will become a trend and no agency in the space will be able to do so.” “It could turn out to be something we don’t want,” he said. Gomez emphasized.
A moment when everything is “sweet”
Overall, Jose María González, general director of Apa Renovables, defended the period as “sweet”, although he acknowledged that economic signs were “not ideal”. , noted good progress in the sector. In terms of employment and contribution to the national economy.
“We are in a certain stage of slowdown, not to reconsider our goals, but to find means to sell energy in the future and, above all, to solve the imbalance between supply and demand,” González said. and regretted that this activity was “highly disproportionate.” “There is a burden on bureaucracy and permitting.
