Spain’s total installed solar capacity reached 40,294 MW at the end of 2024, according to the Spanish Solar Photovoltaic Association’s (UNEF) annual report.

In 2024, Spain added 7.2 GW of new solar capacity, making it the second-largest solar market in Europe, after Germany.

The solar capacity additions largely comprised captive and ground-mounted projects.

According to the report, globally, the European Union held the second-largest solar installations in 2024 after China, supported by established markets such as Germany, Italy, and France.

However, Spain only added 6,039 MW of ground-mounted solar projects in 2024, a 1.47% drop from 2023.

New captive solar project additions also declined by 31% in 2024, with 1,182 MW installed during the year.

According to the Integrated National Energy and Climate Plan (PNIEC), the country had set a target of 19 GW of captive projects by 2030.

Solar power purchase agreements totaling 4.66 GW were signed, representing a 5.5% decrease year-over-year.

In 2024, solar accounted for 17% of Spain’s electricity mix, up from 14.2% in 2023. Renewable energy makes up 50% of the country’s power mix.

Solar exports

In 2024, the Spanish solar sector recorded exports of €3.41 billion (~$3.95 billion) and imports of €2.04 billion (~$2.36 billion), resulting in a total trade surplus of €1.38 billion (~$1.6 billion), slightly lower than in 2023 (€1.51 billion (~$1.75 billion)).

Solar contributed €1.96 billion ($2.27 billion) towards tax revenues, representing a 2.5% growth compared to the previous year.

Jobs

In 2024, Spain’s solar sector added 146,764 jobs. The solar industry employs a large number of skilled workers, representing 34.2% of all direct jobs. Direct jobs in the solar sector fell by 2% compared to 2023. Indirect employment in the sector decreased by 2%.

However, induced jobs increased slightly compared to 2023, with 36,090 people employed under induced jobs in 2024.

Green Hydrogen

Spain added 2,600 km of hydrogen transport network in 2024, representing 12% of the 21,000 km of new hydrogen transport networks developed in Europe.

According to a report by LevelTen Energy, solar PPA prices in Europe declined 2.4% quarter-over-quarter in the third quarter of 2025. The report said Europe’s solar market is affected by oversupply and negative wholesale prices, particularly in Germany and Spain, suppressing revenues for standalone solar projects.