Industry executive sees promising future for photovoltaic solar power in Spain

In April, renewables in Spain reached a share of 64.6 percent of total monthly generation. Solar photovoltaics increased production by 4.4 percent compared to the same month in 2023.

Photovoltaic (PV) solar energy has a “promising future ahead” and “great potential to expand” in Spain, an industry executive told Xinhua in an interview on Friday.

In April, renewables in Spain reached a share of 64.6 percent of total monthly generation. For the first time, three renewable technologies led the mix: wind (22.2 percent), hydro (19.7 percent) and solar photovoltaic (18.8 percent), official figures showed.

Solar photovoltaics increased production by 4.4 percent compared to the same month in 2023.

A staff member checks photovoltaic modules at the workshop of Hengdian Group DMEGC Magnetics Co., Ltd. in Dongyang City, east China’s Zhejiang Province, April 18, 2023. (Xinhua/Xu Yu)

However, Fernandez explained, “although more roofs are seen full of solar panels, obstacles persist such as high initial investment, lack of public awareness and regulatory complexity.”

At an industrial level, meanwhile, companies have already understood the advantages of solar power, and more power purchase agreements are being negotiated.

Fernandez said these contracts enable companies “to stop suffering from fluctuations in electricity costs, while reducing their energy costs.”

In 2023, the installation of solar photovoltaic power increased by 28 percent in Spain, bringing an additional 5,594 MW to the generation pool, the highest figure since records began, according to Spanish electricity grid operator Red Electrica.

“The demand for solar energy remains high, and there is great potential to expand our business. With government policies increasingly favorable towards renewable energies, we are confident the industry has a promising future ahead,” Daniel Fernandez, co-CEO of Spanish company SotySolar, told Xinhua.