“Solar energy in Ibiza” equals “Secure investment, revaluation and profit.”
Ibiza has gone from 50 photovoltaic installations in 2018 to 528 installations in 2022, that’s an increase of +956%. And why? Because renewable energies are very profitable in Ibiza. There is an initiative called “Ibiza Energy Start Up” that aims to promote renewable energy projects on the island and make them attractive to investors through a series of incentives that include tax exemptions and other benefits such as access to loans or grants from public institutions such as the European Regional Development Fund (ERDF).
We must not forget the increase in electricity prices in Spain this year, which will mean one of the most expensive winters in a long time. The increase in the CPI in the Balearics is mainly linked to the rise in the cost of electricity, gas and other fuels, which have risen by 55.5%, followed by accommodation services, which have risen by 32.5%, and package holidays, which have risen by 20.4%. Isn’t that reason enough to start thinking about installing solar panels on your home?
The renewable energy sector has grown rapidly in recent years and is becoming increasingly important as a source of energy for the population. In Spain, this sector has grown from almost nothing to more than 10% of all electricity generation in less than 20 years.
Installed solar photovoltaic electricity capacity in Spain
National electricity system 2015-2022 (In MW)
Reasons in favour of solar energy in Ibiza.
– Installing solar panels is an excellent way to save money and reduce the environmental footprint.
– There is an initial outlay, but it is a medium-term investment.
– The payback period has been reduced from 6-8 years to 3-5 years.
– Although it is a cost that can be seen as high, it is a marginal price compared to the cost of a property.
– You will create enough electricity to rely on the concept of self-consumption.
– The revaluation is incredibly high, it increases the value of a property.
– There are a multitude of Balearic government subsidies from which you can benefit.
By breaking down barriers, solar energy is more accessible than ever.
As mentioned above, in Ibiza alone 478 installations have been made in less than 4 years; this is no coincidence, it is the result of technology advancing by leaps and bounds and this generates huge savings in costs and installation time.
Let’s talk about the main barriers when deciding on this renewable energy:
We have seen a dramatic change in the cost of solar panels, but that’s not all. The price of the complete installation of solar panels and all the necessary accessories has changed a lot in recent years thanks to technological advances.
The main reason is that new materials and techniques have been developed, making it possible to create panels that produce more energy per square metre and last longer. In addition, there are now cheaper options on the market than ever before, making it possible to invest in solar panels without breaking the budget or having to worry about how much the installation will cost.
The price has been able to be halved in the last 2 years, so that today a complete installation can be around €7,000 – €15,000 depending on the needs of the property.
Once upon a time, the installation of solar panels was the exclusive domain of technicians with years of experience in the field. Today, however, it is easier than ever, especially if you live in Ibiza.
As we all know, Ibiza is an island full of sun-drenched beaches and beautiful scenery. But did you also know that it is an island with a growing population that is increasingly concerned about its future? That’s why many people are turning to solar energy as a way to reduce their carbon footprint and generate clean energy.
Now there’s no need to wait for installation teams or spend hours researching companies before choosing a supplier – we’ve done all the hard work for you! In the following list we recommend some providers of this service located on the island of Ibiza:
Solsulet – 722 53 23 93
Camino cuatro cantos POL. 22198, Local 4, 07840 Puig d’en Valls, Balearic Islands
Servicios Palau SL – 971 31 52 15
Carrer del Romaní, 07819 Nuestra Señora de Jesús, Illes Balears
The process to install solar panels on your house includes the application for permits, installation and legalisation of the photovoltaic system, which usually takes between 2 and 3 months, depending on the size of your house.
Benefit from subsidies and save.
The government has decided to grant subsidies for the purchase of panels and maintenance, as well as incentives for the sale and use of the electricity generated by these panels. This decision is intended to encourage more people to install solar panels on their homes or businesses, as well as to reduce greenhouse gas emissions.
You can find more information for this grant at this link.
The process is very simple, all you have to do is sign up for the programme, wait for them to analyse your proposal and then they will give you back a percentage of your investment depending on the parameters and requirements they have established.
As long as your renovation includes in its budget a percentage destined to the improvement of energy efficiency, including the complete installation of solar panels, you will be eligible for the cancellation of the VAT of the entire renovation work of the property. This can be a very important saving when investing in a property, both because it is money that you stop paying, and because the property will increase in value and the return on investment will be infinitely faster.
Recommendations and conclusions.
We all know that solar energy is the future, and we all know that there are certain barriers that slow us down when we think about installing this technology. What are we waiting for? It has been demonstrated that with the passage of time and the advancement of technology this no longer poses any risk. In addition, we have the incentive of the increase in the price of electricity and the strong ecological footprint that this implies.
From RE/MAX Isla Blanca we want to encourage you, as we find benefits not only for the owners and investors who make the decision to make the installation and the self-consumption that this generates; we see a benefit for everyone at the level of society.
This blog has been possible due to the help of our agent Manuel Castellano Quiroga.