(MENAFN) Spain plans to invest heavily in renewable energy; however it already was a pioneer in the industry between 2007-08 with roughly 300 days of sunshine per year and one of the regions that receive strong winds.
But the severe economic deterioration that followed the breakdown of a decade-long property bubble in 2008 put the brakes on the expansion and progress of renewable energy as the government cut back support.
To add insult to injury, the solar power division has slashed 35,000 jobs since 2008 and now employs just 5,000 people, plus the nation added just 22MW of photovoltaics capacity last year, compared with 2,270MW in Britain.
"The change in regulations since 2008 was negative for the industry, let alone the constant pressure from traditional energy producers that rely on coal, gas and oil," said a renewable energy specialist at the IE Business School in Madrid.
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