Self-consumption in Spain 2024

Evolution and Prospects 🌱.

Photovoltaic self-consumption in Spain remains key in the transition to renewable energies. However, in 2024 we observe a moderate growth. This stabilization could be due to several factors:

Perception of low energy prices
Inflation and high interest rates
Delay in the disbursement of Next Generation grants, which have taken more than two years to arrive.

Despite these challenges, the future of self-consumption is promising. The electrification of industrial consumption and the development of energy communities are emerging as key drivers for the coming years, according to UNEF data. Currently, the accumulated capacity already exceeds 7.5 GW, which shows that the sector continues to make progress despite the ups and downs.

Key chronological data:

2019: End of the "sun tax", boosting the growth of self-consumption with a new capacity of 459 MW.
2020: Despite the pandemic, self-consumption grew by 30%, reaching 596 MW installed.
2021: Year of major expansion with 1.2 GW of new capacity, exceeding 2 GW of accumulated capacity.
2022: More than 2.5 additional GW installed, mainly in the industrial and commercial sector.
2023: 32% drop in new installations with 1.7 GW new, but the adoption of collective self-consumption and storage grew. Installed capacity was around 7 GW.
2024: In the second quarter, installed capacity increased by 41%, with 413 MW of new capacity.

PNIEC 2023-2030: The plan launched in September sets a new target of 19 GW of self-consumption installations by 2030.

Installations with surplus: In Q2-2024, 90% of the power associated with self-consumption is legalized in surplus mode, allowing users to sell the energy not consumed, according to REE.

Storage on the rise: By the end of 2023, Spain has 1,878 MWh of BTM storage installed, of which 67% corresponds to the C&I sector, 32% to residential and 1% to stand-alone installations. An increase is expected in the coming years due to falling prices and NextGenerationEU policies.

Spain continues to be a benchmark in the decarbonization of the energy mix, betting on solar energy and self-consumption. 🔆

Contact us today through this link to find out how we can help you take advantage of self-consumption opportunities and grow your energy independence!