Assetz® News - Spanish solar property ultimatum

Spanish solar property ultimatum

20th September 2005 |

As the world continues to look for solutions to the dangers of climate change, Spain has been busy investing in the development of solar power.

A new scheme has just been launched in one part of Spain to deliver more solar-powered homes than ever before, setting the area up as a major centre for the next generation of housebuilding.

The Junta de Andalucia has announced plans to ensure that all properties of a certain size will need to incorporate solar panels as part of their planning process, meaning that more building projects than ever before will be using solar power as standard. The rules present an interesting opportunity for developers inn the region, as well as for investors looking to the Costa del Sol region for a new and innovative energy-efficient development.

Spain has committed itself to ensuring that at least 12 per cent of its energy is provided by renewable resources by 2010, and an enforced scheme such as this looks set to be followed across the country in an effort to improve the use of solar power. Photovoltaic panels are set to become one of the main ways that Spain can achieve its goal by 2010, and there are grants available to those looking to build a property that will be solar powered.

Such a scheme looks set to deliver new investment for Spain, as more and more people are showing an interest in taking positive action to combat climate change and would be interested in investing in properties that are both energy-efficient and use renewable resources.

However, not all developers are pleased by the new regulations, as some have pointed out that not all new properties will be conducive to using solar panels, due to the specific situation of a certain project or because of the particular design. A spokesman for Malaga’s Asociación Provincial de Constructores y Promotores (ACP) suggested that the scheme should be voluntary, so that the use of energy panels can be taken as a recommendation rather than a requirement.

But that would miss the major opportunity for those investors seeking to capitalise on the growing interest in the environment. Developing rules insisting on compliance, rather than merely issuing guidelines, should provide a major new opportunity for those investors who can see the potential of solar-powered homes.

The announcement comes as neighbour Portugal revealed that it will be developing the world's largest solar energy plant, which will deliver enough electricity to power 21,000 homes. This highlights the reliance that countries are now beginning to put on solar power as an alternative fuel source for the future and Spain looks determined to be at the heart of this revolution.