Before the renewable energy, a series of factors combined between the economy, demographic movements, climate change and technology have triggered a global transformation of the energy system. This has generated business opportunities, jobs and economic profitability that were unthinkable a decade ago, supported and socially accepted under one of the most recognized labels: sustainability.
Worldwide, Numerous nations are investing billions in installing renewable energy, due to the obvious benefits they present. This investment not only improves energy efficiency, but also reduces dependence on fossil fuels, minimizing the carbon footprint. We can see these advances in the report Ren21 “Renewables 2015 – GLOBAL STATUS REPORT”, which highlights the exponential growth in the renewable energy sector at a global level.
Investments in renewable energy 2004-2014
In recent years, global investment in renewable fuels and energy has grown considerably in both developed and developing countries. In 2014, Spain was among the seven world leaders in renewable energy generation capacity, especially in the energy sector. wind powerHowever, the last three years have seen a decline in investment, leaving us with the same installed capacity.
Despite the stagnation between 2012 and 2014, we are still good producers of renewable energy. But what happens when we cannot increase our renewable generation capacity and we rely on fossil fuel consumption to meet demand?
Spain and renewable energy in 2015
The report of Red Eléctrica Española of 2015 reveals that, unfortunately, Spain consumed less renewable energy and much more coal and gas compared to the previous year. The reasons include the variability of hydro and wind power production, which recorded declines of 28,2% and 5,3% respectively. Despite this, wind power remained one of the main sources of electricity during key months such as February and May.
The impact of increasing CO2 emissions
The increase in the consumption of fossil fuels leads to a direct increase in CO2 emissionsAccording to Greenpeace, in 2015 Spain had to pay more than 100 million euros more in carbon rights due to the increase in emissions. Between 2008 and 2012, the country spent more than 800 million on buying these rights, which highlights the lack of investment in renewables during key years.
This money that could have been invested in increasing renewable energy generation has simply been wasted on paying for the right to pollute. If we had invested appropriately between 2012 and 2014, today we could be enjoying greater capacities in wind and solar energy, thus saving those millions in CO2 rights and significantly improving our ecological footprint.
The 2016-2017 panorama
Despite efforts to promote a coherent energy policy, 2016 and 2017 are expected to follow a similar trend to 2015, with a stagnation in renewable energy production and an increase in the use of fossil fuels. Society is consuming more and more electricity, something that current infrastructure cannot sustainably manage without significant investments in renewable energy.
Spain's future in renewable energy: challenges and opportunities
Today, Spain remains a benchmark in renewable energy, but to maintain this leadership It is crucial to overcome economic and infrastructure challenges. According to the latest EY report, Spain remains among the most attractive countries for investment in clean energy, standing out in power purchase agreements (PPA). However, challenges such as power grid restrictions and high infrastructure costs limit progress.
Investments in energy storage are also booming, with advanced BESS (battery storage systems) systems in development. These are essential to improve grid stability and optimise the use of intermittent renewables such as solar and wind. Battery storage capacity is projected to quadruple globally by 2030, and Spain is no exception to this trend.
In the thermal and marine renewables field, significant investments are also being made in geothermal projects, heat and cold networks, and marine energy demonstrations, with an increasing focus on biogas and other alternative fuels.
New technologies Like green hydrogen, although still expensive, they present a great opportunity. With investments of more than 8.900 billion euros planned for 2030, green hydrogen can decarbonise industrial sectors that are difficult to electrify.
Spain remains a privileged destination for investment in renewable energy thanks to its favourable climate, strategic location and continued innovation in the energy sector. However, it is vital that the government and businesses continue to invest more in renewables, reducing dependence on fossil fuels and prioritising adequate infrastructure for the country's energy future.
Spain faces challenges but also great opportunities. With the right support and a clear vision for the future, the country can establish itself as a world leader in the energy transition towards a more sustainable and clean model.