November 15, 2018 Read More →

Spain aims for 100% renewables by 2050

The Guardian:

Spain has launched an ambitious plan to switch its electricity system entirely to renewable sources by 2050 and completely decarbonise its economy soon after.

By mid-century greenhouse gas emissions would be slashed by 90% from 1990 levels under Spain’s draft climate change and energy transition law. To do this, the country’s social democratic government is committing to installing at least 3,000MW of wind and solar power capacity every year in the next 10 years ahead.

New licences for fossil fuel drills, hydrocarbon exploitation and fracking wells, will be banned, and a fifth of the state budget will be reserved for measures that can mitigate climate change. This money will ratchet upwards from 2025.

Under the plan, “just transition” contracts will be drawn up, similar to the £220m package announced in October, that will shut most Spanish coal mines in return for a suite of early retirement schemes, re-skilling in clean energy jobs, and environmental restoration. These deals will be partly financed by auction returns from the sale of emissions rights.

The government has already scrapped a controversial “sun tax” that halted Spain’s booming renewables sector earlier this decade, and the new law will also mandate a 35% electricity share for green energy by 2030.

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