Is the sun rising again on Spanish solar power?
On paper, Spain should be at the forefront of the renewable energy revolution particularly when it comes to solar power. It is a big largely empty country, has some of the highest levels of irradiation in Europe and relatively steep conventional power prices.
You’d think that these three factors would mean that solar power in Spain would be taking off like a budget airline heading to Magaluf, you’d think that Spain would be leading the charge towards a future powered solely by the sun and you’d think all those hot dusty plains would be transformed into acres upon acres of solar farms. You’d think all of these things, but you’d be wrong.
Although it is an over-used metaphor, the Spanish renewables industry has been on a bit of a hair-raising rollercoaster journey in the last 15 years. After a promising start when the country had one of the highest installed solar capacities in the world, the industry went down a very steep decline then a flat bit but is now seemingly going back up the scary steep section. The market is heating up dramatically and the international investor market is once again looking at the Spanish solar market with maybe too much enthusiasm? So, what has changed and why are we now back on the upslope of this peculiar rollercoaster shaped market?