Please Wait.....
Report
Spain Solar Energy Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 95 Pages I Mordor Intelligence
The Spanish solar energy market is expected to register a CAGR of more than 8% during the forecast period 2022-2027. The COVID-19 outbreak in 2020 slightly affected solar PV production, and project implementation was also delayed in the country during Q1 and Q2 of 2020 due to the pandemic-induced lockdown restrictions. Moreover, the country's total electricity demand plunged by 12.7% in the first half of 2020. Factors such as supportive government policies and incentives and large-scale acceptance of solar photovoltaics in the end-use industries are expected to be some of the driving factors for the solar energy market in Spain during the forecast period. However, the increasing adoption of alternate renewable sources such as wind and limited grid infrastructure and storage systems are expected to hinder the market growth during the forecast period.
The solar photovoltaic (PV) segment is expected to become one of the significant sources of electricity, owing to the increase in annual installation capacity along with investments during the forecast period.
With the introduction of the National Energy and Climate Plan for 2021-2030, the government aims to increase the renewable energy share to 42% by 2030. This is expected to create opportunities for solar power companies over the coming years.
Supportive government policies and incentives to promote renewable power generation are expected to propel the growth of the Spanish solar power market during the forecast period.
Spain Solar Energy Market Trends
Solar Photovoltaic (PV) Type to Dominate the Market
Solar photovoltaic (PV) technology is expected to account for the largest annual capacity additions for renewables, well above wind and hydro. The solar PV market has cut costs dramatically in the past six years as the market was flooded with equipment, and the cost of solar panels dropped exponentially, leading to increased solar PV system installations. ??
In recent years, utility-scale PV systems have dominated the PV market. However, distributed PV systems, mostly in commercial and industrial sectors, have become essential in many countries due to their favorable economics; when combined with increased self-consumption. The ongoing cost reduction of PV systems favors the increasing off-grid markets and is, in turn, expected to drive the solar PV market in Spain during the forecast period.
According to the Spanish Electric Network, in 2020, renewables accounted for 43.6% of energy generation, of which solar energy accounted for 6.1%. The market in Spain showed a historical CAGR of 16.6% in terms of installed capacity from 2014 to 2020, with a net capacity of 11.8 GW in 2020.
The renewable auctions planned by the Spanish government are likely to award at least 1.8 GW of solar photovoltaic energy per year to interested parties until 2025.
In 2020, a total of 596 MW for self-consumption was added to the available solar PV capacity in the country, which represents more than 20% of the value registered in the previous year.
As per the Spanish PV Association (UNEF) statistics, Spain deployed 3.4 GW of solar energy in 2020, of which 2.8 GW was from ground-mounted PV plants and 596 MW from rooftop solar arrays.
With large solar power projects lined up to achieve the aim of 31 GW by the end of 2030, the growth of the solar photovoltaic market in Spain is expected to witness significant growth during the forecast period.
Therefore, owing to the above factors, the solar photovoltaic (PV) segment is likely to dominate the Spanish solar power market during the forecast period.
Supportive Government Policies and Targets Driving the Market Demand
To meet Europe's energy and climate targets by 2030, European Union State Members, including Spain, established National Energy and Climate Plans for the period 2021-2030, aiming for a 21% reduction in greenhouse gases in comparison to 1990, 42% energy end-use from renewables, and 70% electricity from renewables.
In 2018, the government of Spain scrapped the 'Sun Tax,' which was charging Spanish homes fitted with solar panels with an additional tax of 7% to stay connected to the grid. With the abolishment of this tax, the domestic scale installation of solar panels is expected to increase over the coming period.
The Spanish government took bold steps, like the formation of the Strategic Energy Technology Plan and the Low Emission Strategy 2050, which are making the nation a global leader in the renewable market and reducing its carbon footprint at an astonishing rate.
In January 2020, Barcelona's local government made its declaration and set a target to slash greenhouse gas emissions by 50% through 2030. For this, large-scale deployment of photovoltaic solar panels in residential and commercial buildings has been planned.
As per IEA's Spain Energy Policy Review 2021, Spain is targeting a sizeable buildout of new renewables capacity to reach 74% of electricity generation by 2030, notably wind and solar energy.
Therefore, owing to the above factors, supportive government policies and targets are likely to drive the solar power market in Spain during the forecast period.
Spain Solar Energy Market Competitor Analysis
The Spanish solar energy market is moderately fragmented. The key players in the market include Acciona SA, Iberdrola SA, The Red Electrica Group, COBRA Group, and Solaria Energia y Medio Ambiente SA.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Solar Energy Installed Capacity and Forecast in MW, till 2027
4.3 Renewable Energy Mix, 2020
4.4 Recent Trends and Developments
4.5 Government Policies and Regulations
4.6 Market Dynamics
4.6.1 Drivers
4.6.2 Restraints
4.7 Supply Chain Analysis
4.8 PESTLE Analysis
5 MARKET SEGMENTATION - BY TYPE
5.1 Solar Photovoltaic (PV)
5.2 Concentrated Solar Power (CSP)
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Acciona SA
6.3.2 COBRA Group
6.3.3 Iberdrola SA
6.3.4 Solaria Energia y Medio Ambiente SA
6.3.5 JinkoSolar Holding Co. Ltd
6.3.6 The Red Electrica Group
6.3.7 Repsol SA
6.3.8 Engie SA
6.3.9 Soltec Energias Renovables SL
6.3.10 Gransolar Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security