Silver energy Portugal

Why is Portugal a 'silver economy'?

Portugal is in a unique spot with its high quality of life, good healthcare, low crime rate, zero taxes on pensions and consistent weather to capitalize on the «Silver Economy» a term used for the spending power of 60+ olds which will reach $ 15 Trillion by 2020.

How much solar energy does Portugal produce?

In a bold announcement, Portugal recently surpassed its entire solar output from 2023 by September 2024, celebrating a record year for solar energy production. According to REN (Rede de Energia Nacional), the country generated more than 3.99 TWh of solar energy in just the first nine months, exceeding last year's total of 3.6 TWh.

What is Portugal's energy transformation?

Portugal’s transformation is more than just about energy production; it’s a narrative of resilience, innovation, and community spirit. As the country forges ahead, its commitment to renewable energy serves as a powerful reminder that a brighter, greener future is possible, and it begins with each of us.

How much solar power will Portugal have by 2030?

The Portuguese government’s General Directorate of Energy and Geology’s (DGEG) has set an ambitious target of 8.1 GW to 9.9 GW in installed solar capacity by 2030. At the end of 2020, solar power installed capacity totalled 1.03 GW and represented only 3.6% of total power generation in 2020.

Is Portugal a good place to invest in renewables?

Moreover, Portugal has a highly diversified potential of renewables including hydro, solar, wind (onshore and offshore), waves and biomass, which allows for a broader cost-effective picture of renewables deployment, providing widely applicable insights. ii.

What role does Portugal play in Europe's energy mix?

Portugal continues to play a significant role in Europe’s energy mix to improve Europe’s energy security and increase competition. Portuguese companies are also looking for partnerships at all levels.