31 New solar power plants will be installed in Portugal by 2021, with a total of 1,000 MW of Solar power added to the grid by 2021.
The total value of the power projects is said to be valued at 800 million euros. What is driving the development of these solar projects is the dramatic drop in recent years of the cost of solar power. Also, energy storage in the form of battery systems is becoming more affordable and they can be well-matched with solar power arrays.
“By 2021 we will be able to triple the solar capacity in Portugal, from the current 572 MW to close to 1600 MW,”
said Jorge Seguro Sanches, Portugal’s Energy Secretary of State.
Portugal’s goals is to run completely on renewable electricity, “Last month’s achievement is an example of what will happen more frequently in the near future. It is expected that by 2040 the
production of renewable electricity will be able to guarantee, in a cost-effective way, the total annual electricity consumption of mainland Portugal,” stated the Portuguese Renewable Energy Association
and the Sustainable Earth System Association.
Naturally, any excess electricity could be exported and this is exactly what has occurred,“In addition, the Portuguese electricity system had an export net balance of 249 GWh, which translates into almost 24 M€. The electricity export prices increased due to the emergency of the French electricity sector and to the adverse weather conditions in Central Europe.”
Renewable energy has been seen by some as only of environmental interest, but Portugal is showing that it can also have economic benefits.