Why is energy storage important in Spain?

Energy storage is vital for Spain to make renewable energy a real viable independent energy source, helping to reduce or even almost eliminating the need for back-up systems. Demand for this technology is huge in Spain as renewable energy has become the most important energy source produced locally.

What are the challenges facing Spain's energy system?

However, the energy system in Spain bears several legacy headwinds that may hamper progress, including uncertain regulatory frameworks, additional taxes for companies in the energy sector (for example, in 2022, Spain introduced a 1.2 percent additional tax on revenues for some companies in the sector), and lengthy permitting processes. 7

Can Spain help resolve the European energy crisis?

Spain's role in helping resolve the European energy crisis is attracting attention in Europe.

Are Spain & Portugal ready for a green energy transition?

Spain and Portugal’s unique geographic endowments—including ample opportunities for cost-effective renewable energy production and significant raw materials—as well as their mature industrial base, mean they are well placed to capture the “green growth” that the energy transition can deliver.

What role do regional governments play in energy policy development in Spain?

In Spain's decentralized government system, regional administrations have considerable authority over energy policy development and implementation. Effective coordination between the central and regional governments is critical for a successful enactment of energy strategies in Spain.

Are Spain & Portugal a good place to invest in green energy?

Spain and Portugal, with their unique geographical position and mature industrial base, possess natural endowments that could position them as frontrunners in clean energy production and allow them to capitalize on green opportunities.