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Spain planning huge leap forward in renewable energy

Despite cuts, Spain’s subsidy structure still enables renewable power producers to earn up to 10 times more than fossil fuel producers for their energy. However, Spanish Prime Minister Jose Luiz Rodriguez Zapatero plans to continue incremental cuts in those subsidies. He believes that his country’s goals will be obtained through increased private investment.

Spain Shoots for 67 Percent More Renewable Energy, CALFINDER , 18 June 2010, In a draft proposal on its way to the European Commission, Spain proposes that renewable generation capacity increase to 70 gigawatts by 2020, up from 42 gigawatts currently. Solar power will grow by nearly 300 percent from 4.7 GW to 13.4 GW. Wind power will nearly double to 38 GW from today’s 20.2 GW, including approximately 3 gigawatts from new offshore wind farms.The plan would put Spain beyond the European Union goal of 20-percent renewable energy by 2020.

If successful, Spain will be producing 23 percent of its overall energy and 40 percent of its electricity from renewable resources by the end of the decade.Despite cuts, Spain’s subsidy structure still enables renewable power producers to earn up to 10 times more than fossil fuel producers for their energy. However, Spanish Prime Minister Jose Luiz Rodriguez Zapatero plans to continue incremental cuts in those subsidies. He believes that his country’s goals will be obtained through increased private investment. The Industry Minister, Miguel Sebastian, is scheduled to meet with executives of renewable energy companies over the next week as he prepares a final proposal for cutting subsidies.

Spain Shoots for 67 Percent More Renewable Energy

June 18, 2010 - Posted by Christina Macpherson | renewable, Spain | antinuclear, climate change, energy efficiency, renewable energy, renewables, solar