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Iberdrola and BBVA Team to Boost Energy Savings with Sustainable Solutions

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Iberdrola and BBVA Team to Boost Energy Savings with Sustainable Solutions

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  • This agreement will provide sustainable energy solutions to save on energy bills and improve efficiency.

Iberdrola, a world leader in solar and wind energy, has reached an agreement with BBVA to offer individuals and companies in Spain sustainable energy solutions that enable them to save on their bills and improve their energy efficiency. 

To this end, the bank’s customers will be able to access personalised energy saving proposals from BBVA branches or from its app, including, among others, self-consumption solutions, charging points for electric vehicles and energy efficiency measures such as aerothermal energy, all of which are known as Iberdrola Smart products. The offer of these products will include the processing of all existing public subsidies. In addition, the bank offers financing for all Iberdrola’s sustainable product offers. With this strategic alliance, BBVA and Iberdrola take another step forward in their goal of continuing to help their customers towards a sustainable transition.  

To facilitate energy-saving solutions, companies and individuals interested in contracting Iberdrola’s Smart products will be able to do so directly through the bank’s channels from start to finish. Thanks to this collaboration agreement with Iberdrola, BBVA will initially offer personalised advice and diagnosis, with a turnkey service, for the contracting and installation of Smart Solar, Iberdrola’s self-consumption product. This energy-saving solution will gradually be joined by other energy efficiency options, such as aerothermal energy, which will help to reduce energy bill costs while adopting sustainable solutions.

In the case of self-consumption, once the customer requests the information through the entity’s physical or digital channel, they will be able to access a personalised simulation and find out which installation is the most suitable according to their profile. This simulation will show the savings on their energy bills and the possible financing quota, if they wish to finance the cost of the installation. From there, and through a turnkey service, Iberdrola will provide the customer with an offer, as well as the installation of the energy solution and the management of the possible subsidies for which they may be eligible linked to energy efficiency. 

If the customer wants to access this service from a BBVA branch, a manager specialising in sustainability will request the necessary data for the simulation, while customers who opt for the digital channel will be able to do so directly by accessing an Iberdrola simulator incorporated into the BBVA mobile app. In addition, in order to install energy-saving solutions, BBVA offers customised financing such as a specific solution, Autoconsumo Solar (Solar Self-consumption), with no fees and a term of up to 10 years for 100% of the investment, or the Energy Efficiency loan with an interest rate rebate.  

In addition, all Iberdrola customers, whether individuals, companies or homeowners’ associations, who contract self-consumption, energy efficiency and recharging point solutions will be eligible for the bank’s range of financial products if they need to finance the cost of their installation. 

“At Iberdrola, we are firmly committed to the decarbonisation of the planet and to progress in the electrification of the economy and, in particular, of households and businesses. For this reason, we provide sustainable measures based on clean energy, savings and energy efficiency of interest to all of them”, said Juan Antonio López, head of Iberdrola Alliances in Spain.

See related article: Iberdrola Launches Largest Wind-Solar Hybrid Plant in Southern Hemisphere

Jacobo Anaya, BBVA’s Director of Energy and Sustainability in Spain, said: “At BBVA we want to provide all our customers, companies, SMEs and individuals, with simple solutions that enable them to save energy while making progress in their ecological transition. This agreement allows us to do so hand in hand with one of the leaders in the sector in Spain.

Sustainability, a strategic priority for Iberdrola and BBVA

With the aim of helping customers in their ecological transition, BBVA established sustainability as one of its strategic priorities years ago. The bank is one of the most ambitious European banks in its goal to mobilise sustainable financing. It has recently raised its target for sustainable financing between 2018 and 2025 to €300 billion, three times its initial commitment, a figure that by June 2022 amounts to €112 billion.

Now, it is going a step further with an ‘Energy Saving Plan’, which seeks to raise awareness, advise and accompany individuals, SMEs and companies in improving their financial health through energy saving. Strategic alliances such as the one reached with a strategic partner such as Iberdrola play a key role in this plan. BBVA thus converts its commitment to sustainability into tangible actions that help its customers to make decisions on their path towards more sustainable lifestyles and business models.

Iberdrola leads the photovoltaic self-consumption market in Spain, managing 40% of customers with surplus compensation, having consolidated its position as the benchmark company in the sector with a 75% increase in its self-consumption portfolio so far this year. The company has also made self-consumption available to any type of customer, whether or not they have their own roof or not, through solar communities. As part of its commitment to accelerating the energy transition and developing new products to improve efficiency and energy savings, in 2015 the company became the first company in its sector to integrate self-consumption, electric mobility and energy efficiency solutions into its service offering, and is a leader in all these segments.

Source: Iberdrola

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