Their production rises by almost 11% in a record year, twice over: it records the highest renewable production and its highest share since records began.
Solar photovoltaics overtakes the combined cycle and is in third place in the mix for the first time in a year once again led by wind power, with 23%.
Forecasts indicate that demand in Spain is growing by around 1.6% and the country is closing the year with an export balance for the third consecutive year.
Renewables could close the year with an increase of almost 11% compared to their production from the previous year, according to estimates from Red Eléctrica. These energies would exceed 149 TWh in 2024, thus recording their highest figure since records began. As every year, Red Eléctrica advances the main figures of the system, which on this occasion have been drawn up from preliminary figures as of December 17.
These data also anticipate a record share of these technologies of 56%, some six percentage points above the record obtained in 2023, which was already a maximum. For Beatriz Corredor, president of Redeia, “this milestone is a giant step towards the objective of 81% in 2030 and shows that Spain is making solid progress in the transformation of its electrical system, an essential process in the fight against climate change, to gain strategic autonomy and reduce energy prices.”
In addition to the strong increase in the set of renewable technologies, 2024 stands out, again, for the leadership of wind power in the mix: this source would end the year with 23% of the generation structure. It is followed by nuclear power, which would maintain its second place with a contribution of 19%.
One of the main novelties of the year would be solar photovoltaics, which in this year would occupy the third position with 17%, with a record generation of about 45 TWh. This increase would displace the combined cycle to fourth place. Hydraulics would close the top positions in the ranking, in fifth position with 13%.
Fossil technologies (combined cycle and coal) will experience a notable decline in their production in 2024. Both register a fall of 24%. Coal continues its path towards disappearing from the generation structure: it would be responsible for only 1.1% of the electricity generated this year in the country, the lowest share and production in its history.
Red Eléctrica’s forecasts indicate that this combination of the increase in renewable energy together with the decrease in production from fossil fuels would allow Spain to end the year with a share of close to 77% of emission-free production of the total. Furthermore, 2024 would become the year with the lowest CO2 equivalent emissions from electricity production, reaching a figure of 27 million tCO2 equivalent, which would represent a drop of more than 16.4% compared to 2023, which was already a historic low.
The renewable transformation in our country is already a fact, to which the increase in installed renewable power, which already represents 64% of the total Spanish generating park, as well as favorable weather conditions, have contributed decisively during 2024.
The renewable generation management model has also been fundamental, allowing its active participation in the services of the electrical system through the Renewable Energy Control Center of Red Eléctrica (Cecre), which has managed to integrate more than 98% of renewable production at the peninsular level this year, a value much higher than that registered by countries in the European environment.
Export balance and demand
According to Red Eléctrica’s estimates, 2024 will be the third consecutive year that the Spanish electricity system closes the year with an export balance of around 10 TWh, due to its international exchanges.
Another of the figures that Red Eléctrica anticipates is that of electricity demand, reaching a slight increase of 1% compared to the previous year, with a figure of approximately 248 TWh demanded. Once the influence of labor and temperatures has been corrected, there is an increase of 1.6% compared to 2023.
The variation in demand in 2024 has been very similar in the Balearic and Canary archipelagos. In both, gross demand is 0.6% above the figure for the previous year. Once labor and temperature effects have been corrected, the increase in the Balearic Islands is 1.2% and that of the Canary Islands is 0.9%.
The peak demand recorded in the peninsular electricity system in 2024 occurred this year in winter, specifically on January 9 at 8:56 p.m. with a peak of 38,272 MW.
