By Dilip Kuner • Published: 31 Dec 2019 • 17:55
Wind will be an important part of the power mix in Spain. Credit: Enel Green Power España.
AS the world seeks to reduce carbon emissions in the fight against climate change, Spain is leading the way.
A recent report by Bloomberg New Energey Finance (BNEF) predicts that the country will be able to meet 68 per cent of its electricity demand with renewable energy by 2030.
By 2050 that figure is forecast to reach 88 per cent according to the report, which was co-authored with Spanish renewables and infrastructure group Acciona SA (BME:ANA).
With its windy coasts and copious sunshine it is no surprise that wind and solar are destined to be the biggest players in the energy generation business.
They are expected to account for 51 per cent of the power mix in terms of generating electricity by 2030 and 75 per cent in 2050. Hydro makes up the bulk of the rest.
Impressive as these figures sound, they still miss the Spanish government’s targets of 74 per cent renewable generation by 2030.
The report says: “The transition to an energy system built around renewable generation is gathering pace. However, questions remain as to whether a low-carbon system will have sufficient flexibility to meet future needs.
“For Spain – a large market with high renewables potential and relatively little interconnection – these questions are particularly pressing. We model a series of scenarios to explore the interplay between gas, energy storage, smart-charging electric vehicles and interconnectors, as Spain’s grid adopts increasing volumes of solar and wind.”
The main conclusions of the report are:
Integrating larger volumes of renewable generation. This is done either by shifting excess demand to periods of high renewable generation, or by storing the excess renewable generation for periods of high demand.
Displacing (fossil) backup capacity that would otherwise be needed for extended periods with little wind or solar generation.
Read the full report here: https://data.bloomberglp.com/professional/sites/24/Flexibility-Solutions-for-High-Renewable-Energy-Systems-Spain-Outlook.pdf
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you don't already have one. Review our Privacy Policy for more information about our privacy practices.
Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
By signing up, you will create a Euro Weekly News account if you don’t already have one. Review our Privacy Policy for more information about our privacy practices.
Download our media pack in either English or Spanish.