In 2030, non-hydro renewables will account for almost half of Spain's electricity mix

According to a report by GlobalData, Spain's total installed electricity capacity increased from 55.
5 GW in 2000 to 104.
4 GW in 2017, with a compound annual growth rate of 3.
8%.

Growth is expected to remain at a low CAGR of 1.
8% between 2018 and 2030, reaching 131.
1 GW
by 2030.
It is worth noting that the share of non-hydro renewables in Spain in the capacity mix was just under 5% in 2000, but by 2017 it had grown sixfold to 30.
3%.

"Spain still needs to expand its renewable energy sector to reduce its reliance
on thermal power sources," the report states.
Spain gets most of its electricity from thermal power but does not have large fossil fuel reserves, forcing it to rely on natural gas imports from Algeria, Nigeria, Qatar and Egypt, as well as oil
imports from the Middle East.
”

Chiradeep Chatterjee, power analyst at GlobalData, said: "Spain's new government has taken a more aggressive approach to renewable energy and supports one of its initiatives in the EU to increase current renewable energy targets
.
By 2030, the EU will eventually raise its target to 32%, which is binding
on all members.
”

As a result of this policy shift, the country's solar PV capacity will grow at a CAGR of 13.
1%, while onshore wind capacity will grow
at a CAGR of 3.
3% between 2018 and 2030, according to GlobalData.
Non-hydro renewables are expected to account for 48.
6%
of total installed capacity in 2030.

Chatterjee concluded: "Much of the development of renewable energy in the country was due to the adoption by the government of the attractive feed-in FiTs scheme
until 2012.
However, the government's phasing out of FiTs in 2012 limited the industry's growth
.
As a result, the share of non-hydro renewables in Spain's electricity mix only increased from 29% in 2013 to 29.
9%
in 2016.
”