The contribution of renewable energies to GDP skyrocketed in 2021 to 19,011 million, 1.58% of the total Spanish economy, according to data published this Wednesday in advance of the Study of the Macroeconomic Impact of Renewable Energies in Spain in 2021, presented by the Association of Renewable Energy Companies (APPA) in Madrid.
The economic activity associated with renewable energies represented an increase of 61.2% in 2021, which allowed a 20% increase in jobs to 110,000 workers, a saving of 10,327 million euros for the electrical system as a whole. This means that the average cost of the annual megawatt (MWh) was reduced by 43.20 euros.
The year was also key to boosting self-consumption, which ended with 1,151 MW installed, which means almost doubling the 623 MW with which 2021 ended. The trend for 2022 is equally positive since with the information available in November it is expected that the year ends with a total of between 2,200 and 2,400 MG installed, which would be added to the 5,000 connection totals (4,000 photovoltaic MW and around 1,000 wind MG).
“All international indicators confirm that 9 out of every 10 MW of energy installed in the world are renewable. According to the International Energy Agency, in 2026 the installed power of renewables will reach 4,800 MW, which means surpassing all the fossil and nuclear energy on the planet. A milestone that leaves no room for doubt about the future trend”, Santiago Gómez Ramos, president of APPA, assured this Wednesday.
In an environment of increasing energy prices in international markets, the contribution of renewable energies has provided the national economy with significant savings.
Only the fossil imports avoided (25,481,743 tons of oil equivalent) would have meant 10,327 million euros, to which must be added 3,090 million euros in emission rights. These record savings were produced mainly by the strong increase in the price of gas and CO2 ton.
By focusing the analysis on the electricity sector, renewable energies received a specific remuneration of 5,042 million euros, as a counterpart, their presence in the electricity market displaced offers of more expensive technologies, thus allowing savings in the electricity market of 10,478 millions of euros. Specifically, the average saving in the daily market was €43.20/MWh.
Renewable energies maintain their net export balance, which was 1,887 million euros. The slight reduction compared to the previous year was not due to lower exports but rather to an increase in exports, due to the greater installer nature (both grid connection and self-consumption), during the year 2021.
“The strong growth experienced during the year 2021 is magnificent news for our country but it must be interpreted with caution, given that part of the growth was structural, such as employment growth, but another has its explanation in the strong inflation of the sector and it is possible to remember that Spain is still too dependent on fossil fuels”, warned José María González Moya, general director of APPA.
Specifically, Spain's foreign energy dependency reaches 70.4%, compared to the 59.5% average among the countries of the European Union.
On the other hand, the general director of APPA Renovables, José María González Moya, considered that the 'puncture' in the fourth renewable auction held yesterday under the new remuneration regime, which was practically deserted, should not mean the end of the auctions.
"We do not believe that the auction system should be abandoned. The fact that it did not turn out as expected should not lead to it. Auctions will be necessary for sure, and what you have to see is the current environment, since there are uncertainties globally, but I don't think the Ministry will abandon its plans and its roadmap," he said.
