MADRID – Spain is taking a historic step forward in sustainable energy. In 2023, the country will generate more than half of its electricity from renewable sources for the first time.
This is due to a rapid expansion of new green energy plants. The Spanish electricity sector has produced a record amount of almost 125,300 gigawatt hours (GWh) to date. Renewable energy sources now account for 50.2% of total electricity production. This exceeds nuclear, gas and coal-fired power stations.
Wind energy in the lead
Wind energy will be the main source of electricity production in Spain in 2023. This form of green energy supplies 23.3% of the total electricity, followed by nuclear energy (20.2%) and gas-fired power stations (17.4%). Solar energy also contributes significantly with 12.4% of production. The remaining part comes from hydropower.
Benefits for the environment and wallet
The increase in renewable energy in Spain not only represents environmental progress, but also has a positive impact on energy prices. In November, when renewable sources supplied more than 60% of electricity, the average market price at 62 euros per megawatt hour was the lowest since March 2021.
Challenges
Despite this progress, the industry warns of potential disruptions from falling energy prices, which could impact the profitability of existing and future green energy projects. However, Spain remains committed to sustainable energy with the aim of obtaining 80% of electricity from renewable sources by 2030.
Also read: Green energy will save Spain 20 billion euros in 2022
