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Europe faces an unusual problem: ultra-cheap energy
The continent is failing to adapt to a renewables boom
Owing to the rapid spread of solar power, Spanish energy is increasingly cheap. Even in Germany, which by no reasonable definition is a sunny country, but which has plenty of wind, wholesale prices were negative in 301 of the 8,760 tradable hours last year. As solar panels and wind farms take over Europe, the question facing the continent’s policymakers is what to do with all the power they produce.
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