In terms of the Spanish energy storage market, by the end of 2022, the total Spanish energy storage market will be about 10.8GW. The government's goal is to reach 20GW of energy storage capacity by 2030 and 30GW by 2050. Contact online >>
In terms of the Spanish energy storage market, by the end of 2022, the total Spanish energy storage market will be about 10.8GW. The government''s goal is to reach 20GW of energy storage capacity by 2030 and 30GW by 2050.
Spain has increased its energy storage target by 2030 to 22.5GW in the latest update of its National Energy and Climate Plan (NECP). The Spanish government, through the Ministry of Ecological Transition (MITECO), has passed a royal decree that updates the country''s NECP targets between 2023-2030.
Spain''s battery storage market is dominated by customer-sited systems. Utility-scale storage remains nascent. Currently, Spain''s storage market is mainly composed of small-scale batteries co-located with solar PV. As of early 2023, the total customer-sited storage capacity is estimated at approximately 1.4 GWh.1.
Global energy storage capacity was estimated to have reached 36,735MW by the end of 2022 and is forecasted to grow to 353,880MW by 2030. Spain had 88MW of capacity in 2022 and this is expected to rise to 2,500MW by 2030. Listed below are the five largest energy storage projects by capacity in Spain, according to GlobalData''s power database.
Home - Energy Storage News - The latest developments in the Spanish energy storage industry
Spain has been one of the leaders in Europe’s renewable energy sector, investing heavily in solar and wind power over the past decade. At the same time, Spain adopted onshore wind power technology earlier, and currently onshore wind power accounts for more than 20% of the country’s power generation.
Significant solar photovoltaic investments in recent years have also boosted renewable energy generation. Hydropower, once the largest source of renewable electricity in Spain, now accounts for about 10% of total electricity generation.
At the same time, the Spanish photovoltaic industry has made great progress in technological innovation, and the efficiency and cost of photovoltaic modules have been continuously optimized, which has promoted the commercial value of photovoltaic power generation.
On the one hand, driven by the goal of energy transition, Spain has made significant progress in reducing its dependence on fossil energy. At present, natural gas is the main source of fossil energy power generation in Spain.
On the other hand, has made rapid progress in phasing out coal-fired power generation, with Spanish nuclear power plants continuing to provide a steady baseload and scheduled to be phased out after 2035.
By the end of 2021, Spain’s cumulative photovoltaic installed capacity will reach 15.9GW. Spain will add a total of 6.93GW of photovoltaics in 2022. Among them, 2.64GW of distributed photovoltaics and 4.29GW of centralized photovoltaics were newly added, a year-on-year increase of 14.8%.
By the end of 2022, the cumulative photovoltaic installed capacity will exceed 25GW, ranking second in Europe (first in Germany), with a year-on-year increase of 57%.
According to forecasts, Spain will generate more than half of its electricity from renewable sources this year, the first of the five European countries with the highest electricity demand (France, Germany, Spain, Italy and the United Kingdom) to achieve this goal.
In addition, according to the Spanish Solar Energy Association, by 2022, the installed capacity of ground-mounted solar PV in Spain will reach 3.712 GW, of which 40 GW will be installed in the next 3 years.
Adding this ground-mounted PV capacity to the 2.507 GW that came online in Spain''s self-consumption solar sector (including residential + commercial and industrial + off-grid), the country''s new installed solar PV capacity in 2022 amounts to 6.22 GW.
In terms of the Spanish energy storage market, by the end of 2022, the total Spanish energy storage market will be about 10.8GW. The government’s goal is to reach 20GW of energy storage capacity by 2030 and 30GW by 2050.
According to statistics, the total installed capacity of renewable energy in 2021 will be 61.5GW, with an annual growth rate of 7%. The Spanish government expects that the installed photovoltaic capacity will reach 56GW in 2025 and 76GW in 2030.
This includes its Canary and Balearic Islands, which received €20 million and €6 million respectively from the fund. Grants will cover 40-65% of project costs, depending on the size of the applying company, and eligible projects will be awarded based on economic viability, ability to help integrate renewable energy into the grid, and create local jobs and business opportunities in their development ability to judge.
The subsidy can reduce the levelized cost of electricity of wind storage projects to 41 euros/MWh, while the levelized cost of electricity of solar storage projects is 43 euros/MWh. In 2022, the average electricity price in Spain is more than 175 euros/MWh, and according to the annual electricity futures which refer to the average spot price of the future delivery period, by 2032, the electricity price will be 92 euros/MWh, which is an attractive situation for developers.
The funding is part of the country’s Renewable Energy, Renewable Hydrogen and Energy Storage Recovery and Economic Transformation Strategic Project (PERTE ERHA), a €16.4 billion plan launched by the Spanish government in December 2021. As part of the plan, the country has set a target of deploying 20GW of energy storage by 2030.
Earlier, Spain’s Ministry of Ecological Transition and Demographic Challenges (MITECO) released a revised draft of the National Energy and Climate Integrated Plan (PNIEC), which aims to reduce greenhouse gas emissions by 32% on the basis of 1990, exceeding the previously established 23% Target.
The draft is currently in the stage of public consultation, and the deadline is September 4 this year. To achieve these goals, the new energy strategy outlines plans for a total power sector installed capacity of 214 GW by 2030, of which 160 GW will come from renewable energy generation facilities and 22 GW will come from various forms of energy storage.
The new strategy also highlights the potential of photovoltaics, which are expected to reach 76 GW of cumulative installed PV capacity in Spain by 2030, including 19 GW of self-consumption.
The previous version of the plan set a target of 39 GW of photovoltaic power generation. With 20 GW of PV installed in the country by the end of 2022, a further 56 GW will need to be deployed over the next eight years. Meanwhile, the plan also includes 62 GW of new wind capacity, including 3 GW of offshore wind, 14.5 GW of hydro and 4.8 GW of concentrated solar power (CSP) capacity.
At the same time, non-renewable energy technologies are also taken into account, with natural gas combined cycle power generation expected to reach 26.6 GW and nuclear power plants to generate 3 GW by 2030.
Furthermore, the new national energy strategy increases the production capacity target for green hydrogen via electrolyzers to 11 GW, compared to the 4 GW currently outlined in the roadmap.
To achieve Europe’s energy and climate goals for 2030, EU member states, including Spain, have developed national energy climate plans for 2021-2030. The goal is to reduce greenhouse gases by 21% compared to 1990, to use renewable energy, and to generate 70% of electricity from renewable energy.
The “sun tax” imposes an additional 7% tax on Spanish households installing solar panels. In 2018, the Spanish government abolished the tax in order to maintain the connection to the grid. With the abolition of the tax, it is expected that the installation scale of solar panels will increase in the future.
In October 2022, the Spanish government issued a series of measures to encourage the public to install solar panels to generate electricity by themselves. According to the IEA’s “Spanish Energy Policy Review 2021”, Spain aims to build large-scale new renewable energy capacity, especially wind and solar energy, which is expected to reach 74% of electricity generation in 2030.
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