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Historical maximums of solar photovoltaic energy production

AleaSoft, July 30, 2021. The solar photovoltaic energy, together with the wind energy, are fundamental in the energy transition in Spain. In the case of the solar photovoltaic energy, the result of its implementation is registering records and during the summer of 2021 it continues to make history.

The solar photovoltaic technology explosion has no going back in the Spanish electricity market. The reduction in the prices of photovoltaic panels and the recognition of the great investment opportunity it represents caused the growth of this renewable energy generation technology to skyrocket in recent years.

Recently, on June 29, 2021, the record for daily photovoltaic energy production in Spain was broken, registering 88.2 GWh. Looking at the daily production in recent years, it is clear that we are currently in the middle of the photovoltaic energy revolution. The fundamental boom is observed from 2020, although from as early as 2018, from AleaSoft it was already announced that this technology would be the leader of the energy transition in Spain.

AleaSoft - daily solar photovoltaic energy productionSource: Prepared by AleaSoft using the Alea Energy DataBase (AleaApp) with data from E-SIOS

But the photovoltaic energy production did not break records only in daily production. May 2021 was the month with the highest production to date, with more than 2.3 TWh of energy produced. On the other hand, June 2021 was the month with the highest average daily production, with a record of more than 75.3 GWh on a daily average. And everything indicates that the current month of July 2021 will break both records again.

These headlines of new all‑time highs will not stop popping up. New photovoltaic energy generation capacity continues to be installed each month and its production will become increasingly noticeable. According to REE data, in this month of July, which is almost over, 533 MW more of photovoltaic energy were installed, the most important monthly growth since November 2019. Thanks to all the new installed capacity, the photovoltaic power in the peninsular electricity system rises already more than 12.7 GW.

The great penetration that this technology is having in Spain is largely due to the signing of PPA. Spain is one of the most attractive European territories for these contracts, and the PPA are a key tool for the success of the photovoltaic energy.

AleaSoft is pleased to know that it is part of the step towards the future that is taking place in the electricity sector in Europe. To the extent that the needs of the market agents were detected, solutions were implemented that facilitate the step towards the energy transition and the fulfilment of the European objectives of zero net emissions for 2050. An example of the actions carried out to favour the evolution of the electricity system is the special promotions of the short‑, mid‑ and long‑term European electricity markets prices forecasting services. Having forecasts of the behaviour of the market in the coming years is essential to be able to make decisions that minimise the risks of the energy sector projects.

AleaSoft also works constantly to promote a greater culture and understanding of the markets by all their agents, either through news that regularly report the behaviour of the markets, or webinars that were developed since the end of 2019 and that became a space for exchange and debate on the most current and interesting topics, not only with AleaSoft specialists, but also with speakers from consultancies, financial institutions and companies of the sector. Registration for the next webinar is already open, it will be held on October 7 and will be attended by guests from Deloitte to analyse the evolution of the European energy markets one year after the first webinar in which speakers from this company participated was held. It will be a space to exchange knowledge on the changes in the renewable energy projects financing and the importance of the forecasting for audits and portfolio valuation.

Source: AleaSoft Energy Forecasting.
Long term forecasting

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