
The energy of the future for Spain and Europe. This is how the Association of Renewable Energy Companies (APPA). refers to renewable sources. But if we talk about tomorrow, a question arises: how will the coronavirus affect the objectives of reaching 42% of clean energy by 2030?
The fall in the demand for electricity has been the result of the paralysis of a large part of the industry and shops, among other issues.
The effects of the pandemic on the economy are becoming increasingly noticeable. The renewables sector is no exception, suffering a great impact due to low demand and lack of investment.
«I am interested in the speed which demand can be recovered because it is an inconceivable slowdown, a shock external to the world economic system,» says EKON Strategy Consulting director Kim Keats. «What is written as part of the plan that has been presented to Brussels, no longer works. When circumstances change, the plan must be changed.»
Kim Keats warns that the government will have to review the medium and long-term renewable development plans if the situation does not change. In particular, reaching the NECP (National Energy and Climate Plan) targets would lead to captured prices, by wind and photovoltaic power, below their LCOE and therefore would not reflect the value of the investment. «We will not reach the renewable penetration target by 2030,» says Keats, adding that a year of development has been lost. In short, the decarbonisation of the economy can become one of the driving forces behind reconstruction after this crisis.