Spanish utility giant Iberdrola has launched a new service for small solar PV producers in Spain, offering financial coverage under a fixed price model and maintenance services.
Iberdrola estimates that there are roughly 62,000 small-scale PV producers in Spain that could be eligible for its new ‘Solar Cover’ service, which comes under a monthly fee.
The utility will set a customised and guaranteed sale price for energy produced to ensure the profitability of the small-scale PV systems, it claimed. The fixed price means the producer will no longer be subject to the uncertainty of the market, where prices can fluctuate each day.
Iberdrola will also be responsible for maintenance work on the PV systems and optimising their performance, with annual inspections and breakdown coverage.
The move marks a change in attitude from the utility, after claiming back in 2013 that Spanish regulatory reforms that would essentially kill the country’s solar industry didn’t go far enough. At the time, it claimed the changes did not do enough to “limit the growth of immature technologies” and claimed that solar provides 5% of production but accounts for 20% of energy costs.