Seven years ago, Spain was on the way to becoming a world leader in renewable energy, but after the election in late 2011 of a People’s party government seen by critics as hostile to the sector, there was little or no progress. While Spain has significant land and offshore shale gas and oil reserves, environmentalists and local authorities have blocked exploration, meaning renewables are Spain’s principal energy asset. Since June, however, the new minority government, led by Pedro Sánchez of the centre-left PSOE, has asserted its commitment to renewable energy. One of its first acts was to go to Brussels to affirm its aim of again becoming one of Europe’s leaders in the field. The government made a commitment, confirmed last month, to remove the principal obstacle to developing solar power, the so-called sunshine tax, levied on those who generate their own electricity using photovoltaic technology. The government has also put the energy and environment ministries under one roof.
FT 23rd Oct 2018 read more »