02|12|2009

Spain made net savings from renewable energies of 619 million euros in 2008

Last year renewable energies yielded net savings of 619 million euros in Spain as a result of reductions in imports of fossil fuels and emissions of CO2.

This is one of the main conclusions drawn from a new study undertaken by consultancy firm Deloitte for the association of Renewable Energy Producers (APPA), as disclosed by the president of this business association, José María González Vélez.

He explains that renewable energies received 2,605 million euros worth of premiums last year, but yielded savings worth 2,725 million euros derived from reductions in imports of fossil fuels, and another 499 million euros from reductions in emissions of CO2, which is a total net saving of 619 million euros.

González Vélez defended renewable energies, which in addition to being clean, are home-grown and reduce Spain’s energy dependence. He is proposing the drawing up of a European Renewable Energy Treaty that recognizes their strategic value.

The president of the association highlighted the fact that Spain would need to invest around 100,000 million euros to meet the objective of having renewable energy account for 20 percent of energy demands by 2020, as opposed to 8 percent at present.