WHITE PAPER
Opportunities for Renewable Energy
It’s fair to say that the transition to sustainable energy generation is now a reality, and underway around the globe.
From sustainable development objectives and new environmental policies based on the Paris Agreement, to icons like David Attenborough and citizen activists like Greta Thunberg, the number of climate change deniers is shrinking rapidly, and it seems the whole world is looking for less damaging energy sources.
Here, we provide useful data on renewable energy policies and opportunities in specific regions. We look at regulatory rules, tax benefits and different support available for the renewable industry.
Now is renewable energy’s time to shine.
Webinar Recording: Global Expansion & Investment
Renewable energy opportunities in LATAM & Europe
We were joined by Inigo Viani, Mauricio Salavar, Margarita Oliva & Raimundo Diaz to discuss opportunities for renewable energy organizations to expand into LATAM and Europe. Playback the recording to learn more about the complexities faced and tips to help build a roadmap for multinational success.
U.S.A.
The United States produces around 4 trillion kilowatt hours (kWh) of electricity each year and consumes some 3.8 trillion kWh of electricity per annum. The U.S. Energy Information Administration (EIA) reported that renewable energy sources provided 21% of the country’s total electricity production in 2020, overtaking both coal and nuclear energy production for the first time in history. The greatly varied landscapes of the United States clearly offer plenty of opportunities for the different types of renewable energy. Encouraging signs, but where is the U.S. renewables sector heading?
Discover more about U.S.A. renewable energy industries.
Download our free White Paper on renewable energy in U.S.A.
Europe
Europe aims to become the first climate-neutral continent by 2050, and the European Commission has pledged a 55% reduction in total emissions by 2030. Spain is actively promoting renewables with its new tool to identify the best locations, and a recent auction for 15% of its renewable energy output to 2025.
The recast Renewable Energy Directive 2018/2001/EU came into force in December 2018, as part of the Clean Energy for All Europeans package. This aims to keep the EU a global leader in renewables and, more broadly, help the EU to meet its emissions reduction commitments under the Paris Accord.
All EU Member States are required to draft national energy and climate plans (NECPs) for 2021-2030, outlining how they will meet the new 2030 targets for renewable energy and for energy efficiency.
Most of the other elements in the new directive need to be cemented into national law of Member States by 30 June 2021, when the original renewables directive will be repealed.
Discover more about the outlook for renewable energies industry in Europe in the pdf version.
Latam
In 2019, 10 LATAM and Caribbean countries signed an agreement that set out to achieve an average of 70% of installed capacity in the renewable energy matrix by 2030.
This agreement follows the one signed by 12 renewable energy associations from Argentina, Chile, Colombia, Ecuador, Mexico, Peru, ruguay, and Spain to promote investments in renewable energy in LATAM, and encourage regulatory frameworks in line and consistent with the environmental and social policies of each of the countries.
The South American continent has some natural peculiarities that offer it a unique opportunity to become a leading player in the field of renewable energies. Its own geothermal characteristics and abundance of resources, and an electricity market characterized by high prices and high demand, are just some of the reasons renewable energies are seeing massive expansion in Latin America.
With the decade having just begun and the challenges that Latin America has ahead of it, this White Paper outlines the particulars of taxation that some of the main countries in the region have implemented, and the relevant impact on the companies that want to operate in those countries.
You can see all tax benefits for renewable energy production in Latam in the pdf version.
Spain
If there is an opportunity in every crisis, Spain is a true reflection that the COVID-19 pandemic has left signs of hope; at least in the renewable energy sector. The Iberian country generated 109,269 GWh of renewable electricity in 2020, an 11.6% gain on the previous financial year. Renewable energy accounted for 43.6% of total energy generation in 2020. Other relevant milestones include the reduction of coal production by 60% (with approximately 5,064 GWh) which represents an annual historical minimum of production, with coal’s participation in the Spanish energy mix now sitting at just 2%.
The energy sector in Spain currently claims approximately 3% of total GDP, with EUR 10.5 billion currently coming from the renewables industry. Beyond its present achievements, however, Spain presents important opportunities for the future, having been define done of the most interesting countries in the sector and from where the cheapest energy in Europe could come from. With the goal of climate neutrality by 2050 in mind, tracked by Green Recovery Allianz, Spain has a clear roadmap in the form of its National Energy and Climate Plan (PNIEC). This pledges that almost three quarters of the total Spanish energy generation in 2030 will be from renewable origin.
Discover more about Spanish renewable energy industries.
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