Treball Final de Grau en Finances i Comptabilitat. Codi: FC1049. Curs: 2017/2018 The present study aims to analyse the effects of the growth experienced by the Spanish photovoltaic sector in mid-2007, and the subsequent crisis which began at the end of 2008. In the first part of this paper the historical evolution of solar energy across the globe, its appearance and development at national level, the current situation in relation to solar energy in different countries and continents, and the evolution of the sector in recent years will be explained. Subsequently, we shall proceed to carry out an empirical analysis in order to determine the aggregate effect of the measure which constituted the driving force in the sector (RD661/2007) and of the measure responsible for the decline (RD 1578/2008) through the study of the levels of performance and risk of a sample of companies dedicated to the distribution and installation of photovoltaic material, before and after experiencing the combined effect of the two measures. It may be concluded that, in general, the companies remained in a similar situation, in terms of both profitability and of risk, except with regard to the ratio which measures the solvency of the company in the short term, which presents significant differences between the two years considered.