Spain has reached an unprecedented milestone: for 12 consecutive months (from October 2023 to September 2024), renewable electricity generation has exceeded 50% in each of those months.

These figures, which place the renewable percentage in the last 12-month period at 56.8%, reflect a significant increase, driven by the strong performance of photovoltaics (+22.3%) and, especially, hydroelectric generation (+67.5%).

If we adjust for the exceptional rainfall of this particularly wet year, the annual figure would remain above 54% for renewable electricity generation, showing an increase of four percentage points year-on-year.

To integrate all this new renewable generation, a strong commitment to electrification and storage will be needed, in line with the proposals in the new PNIEC.

In each of the last twelve months, Spain has surpassed 50% renewable generation, consolidating these technologies as the backbone of our electricity system.

Specifically, in the last year, 56.8% of electricity was renewable, and so far in 2024, 57.5% of generation has come from clean sources.

An exceptionally good hydraulic year

These figures have been achieved thanks to an abundant hydraulic resource, which has caused hydroelectric generation to soar (+67.5% compared to the previous 12-month period).

The other significant increase in renewable generation has come from photovoltaics, with a 22.3% rise, driven by increased installed capacity. Solar generation has firmly secured the third position, after wind and nuclear.

If we adjust for the exceptional nature of an extraordinarily wet year, the figures would still be very positive: more than 54% of electricity generation would remain renewable.

The challenges of the PNIEC in electricity generation

The recently approved National Integrated Energy and Climate Plan (PNIEC) sets a target of 81% renewable electricity generation by 2030. To achieve this, the Plan sets ambitious installed capacity targets for 2030: 76 GW of photovoltaics, 62 GW of wind, 4.8 GW of concentrated solar power, and 1.4 GW of biomass.

Among all these technologies, only photovoltaics is progressing at a pace consistent with the 2030 goals. In terms of electricity generation, the percentage increase this year keeps us on a positive trajectory, but this is not the case with electricity demand.

The PNIEC forecasts an electricity demand of 358 TWh in 2030, a 34% increase over current levels. However, in the last 12-month period, demand has only increased by 1.6%, and in previous years, it has contracted (-1.8% in 2023; -3.3% in 2022), so concrete measures will need to be promoted to electrify and flexibilize demand.

Equally important will be the path toward meeting the storage target, set at 22.5 GW by 2030, given the existing interest. The sector is awaiting specific regulations to attract investments and develop storage in Spain, which will be crucial to integrate the renewable capacity expected in the coming years.