Repsol has launched Solify, a comprehensive self-generation solution for photovoltaic energy aimed at individual customers and businesses, providing 100% renewable energy, savings on the electricity bill and efficient digital management of consumption, thanks to the Repsol Smart Thermostat and its mobile app.
Generation and self-consumption of renewable energy is one of Repsol’s propositions for reducing its CO2 intensity and becoming a net zero emissions company by 2050. Repsol is transforming and diversifying its business to contribute to achieving the climate change objectives of the Paris Agreement and limiting the increase of global temperatures to less than two degrees centigrade.
Self-consumption offers unquestionable advantages: it reduces emissions and improves the efficiency of the electricity network by allowing unconsumed energy to be placed on the market. Solar energy is perfectly complemented by this self-supply solution, owing greatly to research and development in recent years of new technologies that have made the installation of solar panels more accessible while, at the same time, increasing their efficiency and cost-effectiveness.
With this launch, Repsol is reinforcing its strategy as a multi-energy supplier for all its customers in accordance with their needs. Solify is a “turnkey” product that includes everything from license management and the procedures for legalizing the installations, to the installation of the panels adhering to the highest quality and safety standards, as well as remote monitoring of the installation to ensure that it is always in perfect working condition.
It is a cost-effective solution, given that a compensation of 5 euro cents/kWh for the solar energy the owner produces, but does not consume, is added to the savings inherent in self-consumption. Furthermore, individual customers will receive €5/month for one year in Waylet, Repsol’s mobile payment app.
In addition to offering Solify to private individuals and small businesses, the company will gradually start to apply this self-consumption solution at its service stations and other facilities. To do so, it has launched a project to equip its stations with solar installations for self-supply of electricity that will make them more efficient and sustainable. The pilot phase of the project includes 30 installations distributed across the Spanish mainland, six of which—located in San Sebastián, Alicante, Albacete, Granada, Soria, and Teruel—are already in operation. This project will be expanded to other Repsol service stations in 2020.
The company is working to facilitate the evolution to an energy model with lower emissions by contributing solutions that improve efficiency, focusing on natural gas, generation of low-emissions electricity, new sustainable forms of mobility, and self-consumption, among others.
Since the creation, just one year ago, of its electricity and gas subsidiary, Repsol has become a relevant player, with nearly one million electricity and gas customers. They benefit from an attractive and unique offer in the market that includes cutting-edge digital solutions and exclusive advantages, such as discounts at the over 3,500 Repsol service stations in Spain. Additionally, the electricity sold by the company is certified as 100% low-emissions.
To advance towards decarbonization, Repsol is promoting a variety of projects associated with the energy transition. Accordingly, the company recently increased its target for low-carbon electricity generation capacity by 3,000 MW, to 7,500 MW by 2025, and it has started to expand into other markets to become a leading international player in renewable energies.
Repsol currently has 2,952 MW in operation and another 1,083 MW under development, added to which the Board of Directors has approved new investments to incorporate and construct an additional 1,600 MW. With these projects, the company’s low-carbon generation portfolio totals 5,600 MW.