Many countries are betting for renewable sources of energy. This situation is due to three main reasons; the increase of energy consumption, the knowledge about fossil sources limitation, and the effect of pollution on climatic change. At the present, one of the renewable alternatives is the photovoltaic solar energy, where the solar radiation is captured in the PV cells to generate electricity. The electricity production through the use of photovoltaic panels has increased strongly during the last years in some of the relatively sunny and developed countries. Spain is one of the countries with most power capacity installed but photovoltaic development has been linked to subsidies and after the spectacular growth during the end of the last decade the sector is now stalled. In order to understand the situation of the photovoltaic sector in Spain and the expectations under the current scenarios, this paper provides a profound analysis using the System Dynamics methodology as the main tool.