Energy and transition economics
2026-04-26
12 min read
12 sources
Spain's renewables surplus and the Iberian export problem in 2026
Spain has crossed 64 GW of installed solar plus wind capacity and routinely produces more clean electricity than Iberia can absorb, but the binding constraint is no longer kit, it is wires, market design, and the 2.8 GW pipe to France.
Spain ended 2024 with roughly 32 GW of installed solar PV and 32 GW of wind on the peninsular system, according to Red Electrica de Espana (REE) operating data, and tracked toward the PNIEC 2023 update targets of 76 GW solar and 62 GW wind by 2030. The buildout is now generating an Iberian surplus that the market cannot fully clear. OMIE ...