Iberdrola installs the first collective self-consumption solar system for residents in Madrid

Iberdrola is to install Madrid’s first photovoltaic collective self-consumption system for a residential community. The company has already started delivering the 20 kW installation, made up of 60 photovoltaic solar panels, which will be placed on the roof of a residential building in the Retiro district.

The system will supply clean energy for the building’s shared services and to 30 households, who will also be paid for the surplus energy generated back to the grid.

As well as being a sustainable initiative, it is anticipated that the cost of electricity for shared services will reduce by 60% and each resident should see a reduction of around 30% in their individual electricity bills.

Although this is the first community project, which is allowed following changes to regulations in 2019, Iberdrola has been leading the market in individual self-consumption projects for residential properties and commercial businesses in Spain.

Pablo Pirles, responsible for Global Smart Solar at Iberdrola, said: “There is increasing demand from the public and from businesses for cleaner and smarter energy supplies. In cities especially, shared residential projects are going to become much more common, and we see significant potential for many more projects.

“As we move towards a zero carbon world, we need to maximize all potential sources of clean power coming on to the system. Schemes like this deliver genuine environmental benefits, as well as financial benefits for communities.”

Smart Solar “a holistic solution”

Iberdrola’s Smart Solar concept offers a complete solution for companies and households. It includes the study and custom design, administrative processing, installation, financing, insurance advice, maintenance and smart monitoring through bespoke online services.

The savings for residential customers can reach up to 70% of an annual bill, with a battery system included, or 40% without storage. For businesses estimated savings can represent between 30% and 35% of the traditional bill.

Like all Iberdrola smart solutions, customers can monitor energy production and consumption data in real time via the App or online platform.