Spain's Goal to Reduce Carbon Emissions
Paving the Way to a Sustainable Future!
2 minutes read
Market
As part of the Paris Agreement, Spain has set the challenge to reduce their carbon emissions drastically by 2050. This translates in advancing in alternative energies and means by thus, job opportunities and economic growth.
The Law on Climate Change and Energy Transition establishes this prospect in two phases.
- Reduce greenhouse gas (GHG) emissions by a minimum of 20% below 1990 levels.
- Generate at least 74% of Spain’s electricity from renewable energy.
- Guarantee 35% of final energy consumption from alternative sources.
- Improve energy efficiency by 35%.
- Achieve 100% renewable energies.
- Reduce greenhouse gas emissions by 90%, in line with the 2030 Agenda and the Paris Agreement on Climate Change.
- Increase wind and photovoltaic power by at least 3 GW/year
- In 2019 Spain generated 97,888 GWh of renewable energy (37.5% of the total annual generation). In 2020 this ratio increased to 40%.
- The latest RECAI (EY) index, which ranks countries on the attractiveness of their renewable energy investment and deployment opportunities, places Spain at 10th in the world.
Besides the commitment to reduce carbon emissions, there are several other factors that favor Spain’s renewable energy industry. Allowing the country to offer one of the most attractive competitive combinations in Europe.
- Spain excels in natural resources
- It is leader in the development of renewable energy
- Competitive researchers and workforce in 4000 companies
- With a state-of-the-art technology and R&D centers in the field of renewable energy (CENER, CIEMAT, IES, PSA, ISFOC).
- Spain has a high quality electrical system that allows maximum renewable energy production under safe conditions.
