Spain Renewable Energy Market Overview, 2030

Spain has been a forerunner in Europe’s renewable energy transition, leveraging its favorable geography, such as abundant sunlight and strong coastal winds, to develop key sources like solar and wind power. Over the years, the country has made significant strides in increasing renewable energy capacity, supported by a combination of government intervention and favorable policies, including subsidies, feed-in tariffs, and tax incentives. These measures have attracted both domestic and international investments, fueling growth in sectors like solar energy, which thrives in Spain's sunny climate, and wind power, particularly along the coast. As part of its commitment to meeting European Union climate goals, Spain has also started focusing on emerging technologies like green hydrogen and offshore wind energy. With ambitious targets, such as generating 74% of its electricity from renewable sources by 2030, Spain is progressively shifting towards cleaner energy solutions. This transformation is not only driven by environmental concerns but also by the desire to enhance energy security and reduce reliance on fossil fuel imports, positioning Spain as a key player in Europe’s renewable energy future. The country’s renewable energy market is expected to continue its rapid growth, with solar and wind energy leading the way. Wind energy, particularly offshore wind, is also expanding rapidly, with the Spanish government supporting projects to harness the vast potential of its coastal areas. The growing emphasis on energy storage solutions, grid modernization, and smart technologies will further enhance the efficiency and stability of Spain’s renewable energy infrastructure. Spain's commitment to innovation and sustainability is strengthening its role as a renewable energy leader in Europe, driving the country’s long-term transition to a low-carbon economy.

According to the research report, ""Spain Renewable Energy Market Overview, 2030,"" published by Bonafide Research, the Spain renewable energy market is anticipated to add more than USD 15.68 billion by 2025–30. In 2024, renewable energy accounted for a major share of the country’s total electricity generation. The market is forecasted to grow significantly from 2025 to 2030, reflecting substantial expansion driven by Spain’s favorable geographic conditions, including abundant sunlight and consistent winds. The solar energy sector, in particular, has experienced rapid growth, with a significant increase in the number of photovoltaic (PV) plants. Similarly, the wind energy sector remains a key focus, with Spain maintaining its position as one of the leading producers of wind energy in Europe. This continued growth is supported by strong government policies, including incentives for renewable energy projects and regulatory reforms. Emerging technologies such as green hydrogen and offshore wind are also expected to contribute to the market’s growth. As Spain works toward achieving its renewable energy goals, the sector will play a key role in the country's efforts to reduce carbon emissions and meet broader climate targets. The renewable energy market in Spain is driven by both domestic demand and external factors such as European Union energy policies. As the country continues to meet its climate and energy targets, it is becoming a hub for renewable energy investments, attracting both global and local players in the solar and wind industries. The government's continued support, including favorable feed-in tariffs, tax incentives, and other financial measures, is expected to keep the momentum going. Additionally, the growing emphasis on energy storage solutions and grid flexibility will enable Spain to better integrate intermittent renewable energy sources, such as solar and wind, into its grid. By expanding offshore wind energy and green hydrogen production, Spain is positioning itself as a leader in innovative energy technologies, ensuring the long-term sustainability and competitiveness of its renewable energy market.

Renewable energy in Spain is largely shaped by key segments such as solar power, wind energy, and emerging technologies like green hydrogen and offshore wind. The solar sector has experienced significant growth, capitalizing on the country's abundant sunshine, which makes it an ideal location for photovoltaic (PV) installations. Spain’s solar energy capacity has expanded rapidly, with numerous residential, commercial, and industrial projects being developed to harness solar power. Wind power is another major contributor, with both onshore and offshore wind farms playing a critical role in the country’s energy mix. Spain’s favorable wind conditions, particularly along its coastal regions, have led to rapid expansion in this segment, positioning the country as one of Europe’s top wind energy producers. The wind energy sector has attracted substantial investment, and the development of both onshore and offshore wind projects is poised to continue driving growth. Additionally, the push for green hydrogen is gaining momentum as Spain invests in the infrastructure required to develop this technology, which holds promise for decarbonizing industries and supporting the transition to a sustainable energy system. The focus on green hydrogen is part of Spain’s strategy to reduce its carbon footprint, especially in sectors that are difficult to electrify. Offshore wind projects are also gaining attention, with Spain's coastline offering significant potential for large-scale developments. The expansion of offshore wind capacity will be a crucial part of Spain’s renewable energy strategy, providing a consistent and scalable energy source. Together, these segments are set to drive the growth of Spain's renewable energy market, helping the country achieve its ambitious sustainability goals by 2030 and solidifying its role as a renewable energy leader in Southern Europe.

The adoption of renewable energy across various sectors in Spain is contributing to the country's transition towards a more sustainable energy future. In the industrial sector, renewable energy solutions such as solar and wind power are being increasingly integrated to reduce operational costs and carbon emissions. These efforts are largely driven by regulatory requirements and the need to meet sustainability targets, with industries leveraging government incentives to accelerate the shift. Companies in sectors such as manufacturing, automotive, and chemical production are particularly focused on incorporating renewable energy to optimize energy efficiency and meet green certifications. In the residential sector, the installation of solar panels is gaining momentum as homeowners seek to lower electricity bills and take advantage of Spain’s favorable climate for solar energy. Self-consumption models, where consumers generate their own electricity, are becoming more prevalent, especially as the cost of solar installation continues to decline. In the commercial sector, solar and wind energy are being embraced as businesses aim to meet sustainability goals and improve their environmental credentials. Many commercial entities are investing in renewable energy systems not only to reduce costs but also to enhance their market position in an increasingly eco-conscious consumer landscape. Additionally, some businesses are incorporating renewable energy solutions into their corporate social responsibility (CSR) initiatives to align with global sustainability movements. As Spain’s renewable energy market expands, these applications will continue to play a significant role in the broader adoption of renewable energy across the nation, driving both environmental and economic benefits and helping Spain meet its 2030 renewable energy targets.


Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030

Aspects covered in this report
• Renewable Energy Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Hydropower
• Wind Power
• Solar Energy
• Bioenergy
• Geothermal
• Others

By End-User
• Industrial
• Residential
• Commercial

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.