Germany hit an incredible new high in renewable energy generation at the weekend – pushing power prices into the negative and assured to pay customers to use electricity.
In total, 87% of the power consumed in Germany was made around midday the country’s wind, solar, hydro and biomass plants, according to a report by Quartz. The average percentage last year was 33%.
In last year, Germany’s renewable energy mix was 33% and is hoping to be on 100% renewable energy by 2050.
Over the last few year, Germany has spent in renewable power mainly wind and solar over $200 billion. The country’s power plants deliver more electricity into the grid, when demand for electricity is low on weekends that time major factories and offices are closed or when the weather is unseasonably sunny.
When amounts of wind generation are high, Germany’s grid operative engineer can struggle to maintain the balance between electricity consumed by people and how much electricity is being generated. Negative prices mean that manufacturer must either shut down power to decrease supply or pay customer to take the electricity off the grid.
On weekends and holidays, demand for power supply is low. About 12 percent of Germany’s power is produced by giant spinning turbines. Wind power is mostly dependent on changing in weather pattern but on windy days, electricity can produce several times than produced by the giant spinning turbines.
Several countries in Europe including Belgium, Britain, France, the Netherlands and Switzerland have experienced negative power prices. Germany’s incursion into negative pricing is the most recurrent. Germany had so much renewable energy and it is in a condition to transport its excessive amount of electricity to its neighbors, helping to balance the market. Still, Germany experiences of negative prices are repeatedly longer, and deeper, than other countries negative pricing.
- Sandeep is a mass communication graduate from the University of Pune. He loves covering business news - specifically start-ups. He previously worked with a finance company handling their PR activities