30 Jul '13, 1pm

A Lesson in Renewable Energy Development from Spain

The most recent energy sector reforms passed in Spain represent the fourth time that a sweeping set of retroactive changes has rocked the country’s renewable energy (RE) industry. This new Royal Decree Law modifies billions of Euros worth of renewable energy contracts in a move that, when added to previous retroactive measures, will almost undoubtedly trigger insolvencies across the sector. Instead of looking at the new Law in detail, this article takes a step back, and looks at the key lessons that policymakers around the world should draw from the Spanish experience. As highlighted in previous analyses , the underlying problem that legislators in Spain are trying to address is the rapid growth of the electricity system deficit, which now stands at €26 billion. This deficit has been created over the last fifteen years as the costs of generating electricity have risen fast...

Full article: http://www.renewableenergyworld.com/rea/news/article/2013...

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