The Spanish government has approved an updated version of the National Integrated Energy and Climate Plan (PNIEC) for the period 2023-2030. This revised plan aims to strengthen the country’s strategic autonomy by boosting energy independence by 50% and increasing the share of renewables to 48% of final energy consumption. One of the plan's standout goals is the reduction of greenhouse gas emissions by 32% by 2030, a significant improvement over the 23% reduction target set in the original PNIEC.

The updated PNIEC 2023 foresees a total investment of €308 billion by 2030, expanding the number of planned policies and measures from 78 in the original plan to 110 in the current version. Of this investment, 37% will be allocated to renewable energy, 28% to energy savings and efficiency, 17% to energy networks, and another 17% to the electrification of the economy.

A key feature of the new plan is the increase in energy independence. The PNIEC 2023 targets boosting domestic energy production to account for 50% of the total supply, compared to 27% in 2019. This shift is expected to generate savings of €86.75 billion in fossil fuel imports throughout the plan’s duration.

The plan also aims to significantly increase the role of renewable energy, which is expected to account for 48% of final energy consumption—rising to 81% for electricity. Additionally, it aims to improve energy efficiency by up to 43%. By 2030, Spain expects to have installed 62 GW of wind energy (including 3 GW from offshore wind), 76 GW of photovoltaics (19 GW of which will come from self-consumption), 1.4 GW of biomass, and 22.5 GW of energy storage, also factoring in contributions from solar thermal power.

The update further increases the electrification of the economy, setting a target of 35%, up from the 32% outlined in the original plan. This will lead to higher electricity demand, driven by new industrial activities and renewable hydrogen production. Electricity demand is expected to grow by 34% compared to 2019, significantly exceeding the 5% growth forecast in the original PNIEC.

The integration of renewable energy and increased energy efficiency will also benefit households and businesses. In 2019, the average household energy expenditure amounted to 7.8% of the family budget, but the PNIEC 2023 forecasts a decrease to 5.7% by the end of the decade, based on price scenarios studied by the Commission.