The potential is enormous: accelerated electrification could therefore save the Spanish economy 6,710 million euros per year. The drivers of the higher demand for electricity include electric cars and heat pumps in households and businesses. The brand new study assumes 20 to 30 TWh more electricity demand.
Electrification is the smartest option
‘Electrification is a historic opportunity for Spain,’ emphasises Santiago Gómez Ramos, President of APPA Renovables. ‘It allows us to reduce carbon emissions, increase energy efficiency and generate high savings for households and industry.’ With a largely emission-free electricity mix, electrification is now the smartest option for the sun- and wind-rich country.
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In 2024, renewable energy will account for 56% of electricity generation. The government's Integrated National Energy and Climate Plan (PNIEC) forecasts a 34% increase in electricity demand between 2019 and 2030. The figures are taken from the current study ‘El Momento de la Electrificación: Energía Renovable para una Economía Competitiva’ (The Moment of Electrification: Renewable Energy for a Competitive Economy), which was compiled by NTT Data on behalf of the industry association APPA Renewables.
Households save up to 64% on energy costs
According to the study, an average household in Spain can reduce its annual energy costs by 64% with an electric car and a heat pump, which corresponds to around 1,433 euros. In addition, CO2 emissions could be reduced by 83% if the electricity used came exclusively from renewable sources, according to the study. The higher purchase costs for a heat pump should be subsidised through tax breaks and other incentive systems. Electric vehicles enable savings of 900 to 1,000 euros per year compared to a vehicle with a combustion engine.
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Spanish industry consumes 57% of its final energy for heating. 77% of this energy comes from fossil fuels. Electrification of industrial processes through heat pumps and other technologies would significantly reduce this dependency. Electrification of industrial processes through heat pumps and other technologies would significantly reduce this dependency and significantly lower energy costs.
Heat pumps cover up to 80 % of the heat demand
Industrial heat pumps, for example, can cover up to 80 % of the heating requirements in sectors such as the food, paper and chemical industries. The heat pumps pay for themselves in less than four years, making them a very economical and ecological option. According to the report, gradual electrification in transport, industry and buildings could already save between 16.5 and 22.8 billion euros in energy costs by 2030. (nhp)
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