News
Royal Decree-Law 23/2020
The new regulation, Royal Decree-Law 23/2020, seeks to bring together two objectives: the Energy Transition towards a climate-neutral model based on renewable energy, and the promotion of investment to support economic recovery following Covid-19.
The explanatory statement of Royal Decree-Law 23/2020 states that the effects of COVID-19 on the economy represent an opportunity to accelerate the energy transition, so that investment in renewables, energy efficiency and new production processes, together with the associated economic activity and employment, can act as a green lever for the recovery of the Spanish economy.
The need to advance the decarbonization and sustainability agenda in response to the crisis is shared at European level. The European Green Deal is the European Union’s climate roadmap for the coming years and will cover all sectors of the economy, particularly transport, energy, agriculture, buildings and industry.
In this decarbonization process, electricity plays a fundamental role. The aim is therefore to guarantee the balance and liquidity of the electricity system, which have recently been threatened by falling demand and prices, while maintaining its attractiveness to investors. The target is for 74% of electricity in Spain to come from renewable sources by 2030 and to reach 100% before 2050.
The energy measures set out in Royal Decree-Law 23/2020 are summarized in four blocks:
- Renewable Energy
- New business models
- Promotion of energy efficiency
- Sector-specific measures
Source: notariosyregistradores.com