Spain spends more money on solar energy than on wind energy, even though wind power provides Spain with 16% more of its energy than solar power. Spain is very sunny for much of the year and solar costs more than wind typically, so Spain spent more money subsidizing solar energy. Spain has been a leader in both wind and solar energy in recent years. In 2008, Spain had half the world’s new solar installations in terms of wattage. It also contains the world’s largest renewable energy company, Iberdrola Renovables. Spain has been forced to cut funding for both forms of energy in 2010 and 2011 due to the deficet caused by economic struggles in 2008 and beyond.
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