Spain’s Ministry for the Ecological Transition and the Demographic Challenge (MITECO) has issued the draft update of the National Integrated Energy and Climate Plan 2021-2030 (PNIEC), increasing the renewable share percentage target in final energy consumption to 48% from the previous 42%.

The draft also proposes to increase the target of reducing greenhouse gas emissions from 23% to 32% in 2030 compared to 1990.

The country aims to improve energy efficiency in diverse sectors by up to 44%.

The proposal submitted to the European Commission is scheduled for a public hearing on September 4, 2023. It is open for public comments until then.

The draft PNIEC estimates that by the end of the decade, the installed capacity of wind is expected to grow to 62 GW in Europe, while the same for solar photovoltaic and solar thermal would increase to 76 GW and 4.8 GW, respectively.

It stresses the integration of renewable energy with storage to meet the increasing demand for round-the-clock power and estimates the energy storage installed capacity to reach 22 GW by 2030 in Europe.

The plan objectives also cover rehabilitating 1.38 million homes, increasing from the previous 1.2 million.

It proposes adding a fleet of electric vehicles of 5.5 million and increasing the renewable energy consumption percentage in buildings to 73%, in line with the new European objectives.

The country plans to develop 11 GW of electrolyzers to produce green hydrogen.

The proposed plan prioritizes the mobilization of investments amounting to €294 billion (~$320 billion) in renewables, of which 85% would be from the private sector, and 15% would be from the public sector, which includes 11% of investments from the European funds.

It further suggests that 40% of the investment will be in renewable energy sources such as solar, wind, and battery storage, while 29% will be invested in savings and efficiency.

Under PNIEC, the remaining 18% and 12% of investments would be directed toward energy networks and the economy’s electrification.

The updated draft aims to increase indigenous energy production by 10% points, reaching 49%. This would provide savings of over €90 billion (~$98 billion) in imports of fossil fuels throughout the implementation of the plan until 2030.

The European Parliament also adopted the revised Energy Performance of Buildings Directive in March this year, mandating the use of solar rooftop systems for all new structures by 2028 and renovating residential buildings by 2032.

Earlier this year, the European Parliament and the Council provisionally agreed to raise Europe’s binding renewable target to a minimum of 42.5% by 2030.

The International Renewable Energy Agency reported that Europe, Asia, and the U.S. were the primary drivers of global renewable growth in 2022, with Europe adding 57.3 GW of clean capacity.