The renewables in the energy mix have been steadily increasing in the past years, reaching the highest point in 2022, with 22 percent—on track to achieving the PNIEC’s goal.
In 2022, there was a notable reduction in hydropower production. Adjusting for this factor and supported by increased investments in renewables, recent reports indicate that 2023 could be a record-breaking year for renewable power. In terms of electricity generation (a subset of total energy consumption), over 50 percent was produced from renewable sources.
Compared to the EU average, Spain has been slightly behind historically, despite its advantages in terms of natural endowments (such as a 15 to 20 percent cost advantage for solar and wind).
Nevertheless, investments in cleantech increased significantly, reaching €676 million in 2022.1
