German power prices dropped below zero on the first trading day of the year, an increasingly frequent phenomenon in Europe as renewables expand.
Intraday prices in Germany, the region’s biggest market, turned negative during four hours overnight as wind-energy output reached as much as 40 gigawatts, far outstripping demand."
And there are 180GWh battery storages planned to store this energy for the next day. But guess who has to confirm the plans? The 4 almighty German power companies. And guess why it‘s just in planning phase? And who is loosing money if energy prices don’t fluctuate that intense? And who tried to slow down the renewables last decade? Same shit as the petrol and gas heads did. Change can’t be stopped, so they play for time.
Edit: Some figures of public power production were published. Power was 62% out of renewables. Mainly wind power. Solar as second.
And the Carbon emissions for electricity is reduced and 50% as of 2014 (152 million tons CO2). Lot of dirty coal burning for power in the past.
Now, heating and mobility as to be transformed to electricity. Making it cheaper as well.
They’ll only block it until they can be the ones to own the battery plants. There is a hell of a market incentive to be able to purchase literally free electricity ans resell it later.
Right now it has a ROI of around 4-5 years. However, this playground isn’t for standard people.
Oh of course, grid scale energy is never for the “normal person”. The point I am making is established fossil-fuel based energy majors do not want any pip-squeak independent startups to start siphoning profit off from their system or possibly making it more efficient or cheaper for the consumer. Vertical integration of regional monopolies is the name of the game.
Domestic scale storage ROIs a lot longer than that, despite 1 kWh going for over 0.3 EUR.
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180 GW is power.
If you’re talking about energy I suppose you mean 180 GWh.
Changed it. Thx
Good thing then that Bundeskartellamt and Bundesnetzagentur are looking more closely at this now