Spain recently updated its National Energy and Climate Plan (NECP) for 2023-2030, raising its targets. The new 2023-2030 roadmap plans to reduce greenhouse gas (GHG) emissions by 32% compared to 1990 levels by 2030 (compared to a 23% reduction in the 2021 NECP), improve energy efficiency by 43% (up from 41.7% previously), and achieve 50% energy independence (up from 39% previously). The share of electricity in final energy consumption should rise to 35% (up from 32% in the previous NECP), increasing electricity demand by 34% (compared to 2019, up from the previous target of +5%). By 2030, renewable energy should account for 81% of the electricity mix (up from the previous target of 74%) and cover 48% of final energy consumption (up from 42% previously).
In terms of power generation capacity, Spain aims to achieve a total wind power capacity of 62GW by 2030 (including 3GW of offshore wind, originally planned for 50GW and 1GW respectively), solar photovoltaic power generation capacity of 76GW (up from 39GW) (including 19GW for automotive consumption), renewable hydrogen capacity of 12GW (up from 4GW), and electric energy storage capacity of 22.5GW (up from 20GW). It also plans to produce 20 TWh of biogas by 2030 (up from 10.4 TWh previously) and have 5.5 million electric vehicles on the road (up from 5 million). Residential renovations should also be accelerated, from 1.2 million units to nearly 1.4 million. Overall, to achieve these goals, 308 billion euros should be invested in the period 2021-2030.