Spain's electricity prices have skyrocketed, and residents are enthusiastic about installing household photovoltaic + energy storage

Nov 22, 2021

Spain's electricity prices have skyrocketed, and residents have been enthusiastic about installing household photovoltaic + energy storage. The cost can be paid back in 5 years, and the installation volume has skyrocketed!

In a small town in the eastern part of Madrid, Spain, on a sunny and cold morning, Esther Banales was standing in front of her house. A technician climbed up the roof to install 16 gleaming solar panels. She hoped it would Cut electricity bills by more than one-third.

half cell solar panel

In sunny Spain, rooftop solar companies say that more and more people are looking for home systems to avoid soaring electricity prices because the natural gas needed for recovery after the epidemic is in conflict with a tighter supply than usual.

Barnales said: "We see electricity bills rise, and people are talking about whether we will have power problems, so I decided this is the right time (solar).".

According to the Norwegian company Otovo, which arranged the Banales installation, demand in several European countries is surging.

Since 2018, electricity bills in Spain have risen by an average of nearly 12%. According to data from the consumer association FACUA, under a widely used electricity price, electricity bills in the first two weeks of November have increased by 50% over the same period last year. A device like Barnales includes an inverter that converts raw electricity into electricity that she can use. All these devices are not cheap-she spent 7,600 euros (8,597 US dollars), but expects to pay for itself soon. The Spanish renewable energy trade organization APPA said that if the price remains at the current high level, household solar systems can save 40-60% of electricity bills every year. APPA said that government subsidies of about 900 million euros, coupled with local tax relief, this cost will be recovered within five years, the recent surge in installations.
Spain electricity prices are rising fiercely, solar panels are popular in Spain, and Spanish household photovoltaic + energy storage grows

Although the increase in electricity prices in Spain has eased recently, it is still much higher than last year's level. Spanish families are suffering, as are Spanish companies. Especially in industry, profit margins are most affected by increased costs. This week, the Association of Employers of Power-intensive Industrial Companies (AEGE) once again condemned this. In the metallurgy, chemical, steel and other industrial sectors, electricity may account for 60% of their total costs. Electricity prices may become a torture in 2022, and may lead to dire consequences, such as the closure of factories and the subsequent blow to Spanish employment.
The industrial sector maintains a tense relationship with the government because of the lack of solutions after the five-fold increase in electricity prices in the summer, reaching more than 288 euros/MWh in October. This Saturday, the average electricity price in the wholesale market will drop to 180.48 euros per MWh, which is a drop of 2.45% from the 185.02 euros per MWh reached yesterday. However, on an annual basis, electricity has soared by 305%. For example, on November 13, 2020, the average price for that day was 44.52 euros per MWh.

The first concern of the industrial sector is to lose competitiveness with neighboring countries. Spanish industry has paid more than 135% of electricity bills than French companies and 45% more than German companies. The electricity bills per MWh are more than 64 Euros and 35 Euros, respectively. In recent weeks, many Spanish factories have had to stop production due to the incredible cost of electricity.

Although the COVID-19 pandemic has led to a decline in energy demand, many households still choose to install solar power in 2020. The country and various regions have cooperated with solar companies to announce that eligible single-family houses are installing battery-less solar power. After the installation, the investment can be recovered within 10 years and the property tax can be reduced or exempted. Banks have also begun to actively invest in solar roof projects. As of the first half of 2021, 8 autonomous regions in Spain have cancelled and no longer asked for building permits to install rooftop solar energy for households. Other autonomous regions need to gradually implement this policy.

الصفحة الرئيسية