Solar Power Is Engine Of Spain’s Economic Growth

Spain‘s Council of Ministers approved a royal decree regulating electricity self-consumption from the administrative, technical and economic point of view. Collective self-consumption has been enabled, which can benefit neighborhood communities and industrial estates.
According to RenewbleEnergyMagazine, The new royal decree regulates a set of mechanisms for a new activity that is the result of the massive increase in the use of photovoltaic energy. Some of these regulations did not exist and others were not satisfactory to empower self-consumption activity.
Renewable energies, especially photovoltaic energy, represent an opportunity for southern European regions to compensate for economic inequalities with respect to the northern regions. The fall in the prices of photovoltaic technology means that domestic and industrial self-consumption installations are becoming more affordable, and can now be done collectively thanks to this new royal decree. The high price of electricity Spain has experienced since 2018 has a negative effect, especially for the industries that consume large amounts of electricity. Through individual or collective self-consumption, these prices can be reduced. In addition, self-consumption can bring new income if the surplus is fed into the grid, providing an opportunity for many companies.
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Solar Power Is Engine Of Spain’s Economic Growth

‘All rights go to the author of the news and image mentioned above’

Location: Spain

Date: Apr 13, 2019 @ 10:30

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