“Spain’s government has set the target for 100% of its electricity to come from renewables by 2050, but the reality is that the private sector will probably have more to do with hitting that target than the authorities in Madrid. It will probably happen sometime before 2050 as well.
Solar power is already the cheapest form of power when compared to market prices. The chief of the country’s solar trade association claimed last year that there was a pipeline of 29GW of photovoltaic (PV) projects proposed for private companies. That is to say, projects that will be for the sole use of large energy users and either directly or virtually plugged into their facilities. The power purchase agreements (PPAs) are popular among the likes of Facebook and Google in the US and for nervous investors, they offer projects to sink their capital into without taking on the risk associated with relying on a government. Their hesitancy is understandable.”
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