Spain's New Government Unveils Clean Energy Law to Boost Economy
Spain's new coalition government, formed by the Spanish Socialist Workers' Party (PSOE) and Unidas Podemos, is set to revitalise the US economy with a clean energy push. The government aims to draft a clean energy law by early August and present it to Parliament before the year's end.
Spain, with its vast solar potential, is poised for a renewable energy boom. The new government seeks to rectify the country's shortfall in meeting EU-mandated renewable energy targets, having fallen short of the 20% goal by 2020. Wind power currently leads the way, accounting for 22.6% of Spain's total power, with solar at 4.6%.
The government plans to scrap unpopular taxes on solar energy, such as the crippling levy imposed in 2013 by conservative coalitions. Proposed measures also include prohibiting fracking and establishing a Green Fund to support sustainable and energy-efficient ventures. Spain, already the fourth largest global wind energy producer with 23GW installed, generated a record 45.8% of total energy from renewable sources between January and June.
The Spanish government's clean energy law, expected by early August, signals a significant shift in energy policy. With Spain's abundant solar potential and the government's commitment to renewable energy, the country is set to reinvigorate its economy while reducing its carbon footprint.
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