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    Spain Photovoltaic Market

    ID: MRFR/E&P/52984-HCR
    200 Pages
    Chitranshi Jaiswal
    October 2025

    Spain Photovoltaic Market Research Report By Type (Organic PV, Inorganic PV)- Forecast to 2035

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    Spain Photovoltaic Market Infographic
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    Spain Photovoltaic Market Summary

    The Spain Photovoltaic market is projected to grow from 1.81 USD Billion in 2024 to 3.54 USD Billion by 2035, indicating robust growth potential.

    Key Market Trends & Highlights

    Spain Photovoltaic Key Trends and Highlights

    • The market is expected to expand at a compound annual growth rate of 6.29 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 3.54 USD Billion, reflecting increasing investments in renewable energy.
    • In 2024, the market is valued at 1.81 USD Billion, showcasing a strong foundation for future growth.
    • Growing adoption of photovoltaic technology due to favorable government policies is a major market driver.

    Market Size & Forecast

    2024 Market Size 1.81 (USD Billion)
    2035 Market Size 3.54 (USD Billion)
    CAGR (2025-2035) 6.29%

    Major Players

    Solarpack, Enel Green Power, EDP Renewables, Siemens Gamesa, TotalEnergies, Veolia, Albufera Energy Storage, Green Eagle Solutions, Karma Energy, Fotowatio Renewable Ventures, Scatec, Grenergy Renovables, Iberdrola, Acciona, Endesa

    Spain Photovoltaic Market Trends

    Spain is experiencing a significant shift in its energy landscape, primarily driven by the increasing focus on renewable energy, particularly solar power, as part of its commitment to the European Green Deal. The deployment of photovoltaic systems has gained momentum due to government initiatives aimed at promoting sustainability and reducing carbon emissions. Key market drivers include favorable policies, such as financial incentives for solar installations, which encourage both residential and commercial sectors to adopt solar energy solutions. 

    The growing awareness of climate change impacts has led to higher public interest in renewable energy, further amplifying market growth.In recent years, Spain has implemented ambitious plans to increase its solar capacity, which are consistent with the nation's goal of achieving 100% renewable energy by 2050. Additionally, the efficiency and affordability of solar panels have been enhanced by technological advancements in photovoltaics, rendering them an appealing alternative for energy consumers. 

    Another potential avenue for bolstering the photovoltaic market is the potential for innovation and advancements in storage solutions, as energy storage becomes increasingly critical for enhancing the reliability of solar energy supply. There is an abundance of opportunities in this market, particularly in rural areas where solar farms can be developed without significant land-use conflicts. Another opportunity for development is presented by the Spanish government's support for local manufacturing of solar components, which promotes the creation of jobs and economic benefits within the country. 

    It is imperative that stakeholders adjust to the evolving photovoltaic market and capitalize on the potential of solar energy as a foundational component of Spain's energy future.

       

    Market Segment Insights

    Photovoltaic Market Type Insights

    Photovoltaic Market Type Insights

    The Spain Photovoltaic Market is characterized by its diverse Type segmentation, which includes Organic Photovoltaic (OPV) and Inorganic Photovoltaic (IPV) technologies. Both segments are crucial in shaping the future of solar energy in Spain, a country that has undertaken significant steps towards renewable energy, particularly in the wake of governmental policies promoting green initiatives and sustainability. Organic PV technology involves the utilization of organic materials that can enable the production of solar panels that are lightweight, flexible, and potentially less expensive than traditional counterparts.

    These characteristics make Organic PV ideal for applications where traditional solar panels may not fit, including architectural elements and portable electronic devices. Meanwhile, Inorganic PV technology typically includes silicon-based solar cells, which are more widely accepted and have strong performance metrics, including higher efficiency rates, making them crucial for large-scale solar farms and installations across the Spanish landscape.

    The dominance of Inorganic PV in the market stems from its robust efficiency and reliability, meeting the energy demands of both residential and commercial sectors efficiently.According to industry insights, Spain benefits from a significant number of sunny days annually, providing a substantial advantage to both Organic and Inorganic PV technologies. 

    The competitive landscape in the market is driven by ongoing Research and Development, resulting in improved technologies that enhance performance and reduce costs significantly. With the Spanish government aiming for substantial solar energy targets, both Organic and Inorganic segments will likely see substantial growth and investment in infrastructure, converting Spain into a key player in the European renewable energy landscape.As innovation continues to evolve, particularly in the Organic PV segment, it promises new opportunities that may facilitate widespread adoption by consumers and businesses alike. 

    The continual push towards sustainability serves as a backdrop for the growth dynamics within the Spain Photovoltaic Market, highlighting the pivotal role that both types of photovoltaic technologies will play in achieving national and international renewable energy goals.

    Source: Primary Research, Secondary Research, Market Research Future Database and Analyst Review

    Get more detailed insights about Spain Photovoltaic Market

    Key Players and Competitive Insights

    The Spain Photovoltaic Market has witnessed remarkable growth in recent years, capitalizing on the increasing demand for renewable energy and favorable government policies aimed at reducing carbon emissions. This market is characterized by dynamic competition among various players offering innovative solar technologies, installation services, and project financing solutions. Companies within this market focus on enhancing their competitive edge through advancements in photovoltaic technology, strategic partnerships, and a strong emphasis on sustainability practices. 

    In a landscape driven by the need for clean energy sources, understanding the competitive insights of the market is crucial for stakeholders aiming to navigate the complexities and seize opportunities for growth.Solarpack has established a strong foothold in the Spain Photovoltaic Market, renowned for its commitment to high-quality solar projects and sustainable energy solutions. The company's strategic focus on large-scale solar plants has positioned it as a key player in the sector, with a significant portfolio of operational solar farms across the country.

    Solarpack's strengths lie in its technological expertise and effective project management capabilities, allowing it to develop efficient and cost-effective solar solutions that cater to local energy needs. 

    Additionally, the company's robust relationships with investors and local stakeholders bolster its market presence, enabling it to capitalize on emerging opportunities in the rapidly evolving renewable energy landscape of Spain.Enel Green Power has a prominent presence in the Spain Photovoltaic Market, recognized for its extensive portfolio of renewable energy projects and innovative technologies. The company offers a range of key products and services that include the development, construction, and operation of solar power plants, contributing significantly to the country's energy transition. 

    With a strong emphasis on sustainability, Enel Green Power continually invests in research and development, ensuring it remains at the forefront of technological advancements in solar energy. Its strategic mergers and acquisitions have further expanded its capabilities and market reach, allowing it to integrate complementary businesses and enhance its service offerings. This strong market position is reinforced by its commitment to operational excellence and a sustainable business model that resonates strongly within the Spanish market, thus solidifying its role as a leader in the transition to renewable energy.

    Key Companies in the Spain Photovoltaic Market market include

    Industry Developments

    In recent months, the Spain Photovoltaic Market has seen significant growth and development, driven by governmental support for renewable energy and increased investments from key players. Companies like Solarpack, Enel Green Power, EDP Renewables, and Siemens Gamesa are aggressively expanding their share in this burgeoning sector. For instance, EDP Renewables announced plans in August 2023 to develop a new 200 MW solar project in southern Spain, reflecting the ongoing transition towards sustainable energy sources. Additionally, in May 2023, Grenergy Renovables secured funding for multiple solar facilities, enhancing its project pipeline.

    In terms of mergers and acquisitions, Scatec acquired 100% of a 540 MW solar portfolio in Spain from Fotowatio Renewable Ventures in July 2023, a move indicative of the market's consolidation trend. Notably, Iberdrola also reaffirmed its commitment to renewable energy by planning significant investments in solar energy infrastructure, aligning with Spain's National Energy and Climate Plan targets. The overall market valuation of companies within this sector has seen a substantial increase, evidencing the strong demand and potential for solar energy in Spain as the country continues its push towards a greener future.

    Market Segmentation

    Photovoltaic Market Type Outlook

    • Organic PV
    • Inorganic PV

    Report Scope

     
    Report Attribute/Metric Source: Details
    MARKET SIZE 2023 1.71(USD Billion)
    MARKET SIZE 2024 1.81(USD Billion)
    MARKET SIZE 2035 3.54(USD Billion)
    COMPOUND ANNUAL GROWTH RATE (CAGR) 6.304% (2025 - 2035)
    REPORT COVERAGE Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    BASE YEAR 2024
    MARKET FORECAST PERIOD 2025 - 2035
    HISTORICAL DATA 2019 - 2024
    MARKET FORECAST UNITS USD Billion
    KEY COMPANIES PROFILED Solarpack, Enel Green Power, EDP Renewables, Siemens Gamesa, TotalEnergies, Veolia, Albufera Energy Storage, Green Eagle Solutions, Karma Energy, Fotowatio Renewable Ventures, Scatec, Grenergy Renovables, Iberdrola, Acciona, Endesa
    SEGMENTS COVERED Type
    KEY MARKET OPPORTUNITIES Rising demand for renewable energy, Government incentives and subsidies, Technological advancements in solar efficiency, Declining installation costs, Expansion of commercial and residential sectors
    KEY MARKET DYNAMICS Growing renewable energy investments, Supportive government policies, Declining solar technology costs, Increasing electricity demand, Rising environmental awareness
    COUNTRIES COVERED Spain

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    FAQs

    What is the expected market size of the Spain Photovoltaic Market in 2024?

    The Spain Photovoltaic Market is expected to be valued at 1.81 USD Billion in 2024.

    What will be the market size of the Spain Photovoltaic Market by 2035?

    By 2035, the market size is expected to reach approximately 3.54 USD Billion.

    What is the expected compound annual growth rate (CAGR) for the Spain Photovoltaic Market from 2025 to 2035?

    The expected CAGR for the Spain Photovoltaic Market from 2025 to 2035 is 6.304%.

    Who are the major players in the Spain Photovoltaic Market?

    Major players include Solarpack, Enel Green Power, EDP Renewables, Siemens Gamesa, and TotalEnergies.

    What is the market size for Organic PV in 2024 and 2035?

    The Organic PV segment is valued at 0.91 USD Billion in 2024 and is expected to reach 1.86 USD Billion by 2035.

    What is the market size for Inorganic PV in 2024 and 2035?

    The Inorganic PV segment is valued at 0.90 USD Billion in 2024 and is forecasted to grow to 1.68 USD Billion by 2035.

    What key trends are driving the growth of the Spain Photovoltaic Market?

    Key trends include increasing investment in renewable energy and advancements in photovoltaic technology.

    How are global conflicts impacting the Spain Photovoltaic Market?

    Current global conflicts are impacting supply chains and may influence market dynamics but overall demand remains strong.

    What growth opportunities exist in the Spain Photovoltaic Market moving forward?

    There are significant opportunities in residential solar systems and energy storage solutions in the coming years.

    Which segment of the Spain Photovoltaic Market is expected to grow the fastest?

    Both Organic and Inorganic PV segments are anticipated to experience rapid growth during the forecast period.

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