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Europe's solar power surge hits prices, exposing storage needs
Europe has clocked a record number of hours of negative power prices this year due to a mismatch between demand and supply as solar power generation soars, potentially helping to shift investment to much needed storage solutions.
Wholesale power markets in most of Europe’s key economies turned out zero or negative prices for a record number of hours in the first five months of this year at times of low demand. “Developers who choose not to co-locate their wind and solar PV power parks alongside battery storage or other sources of flexibility may see a drop in potential revenues during peak generation – hampering profits and discouraging investment,” the IEA wrote. Only those consumers that have invested in a heat pump, a charger for their electric car, or a storage system, are able to benefit from negative prices, spokesperson for Germany’s association of local utilities VKU said.
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