Capitalists Alarmed as Renewables Keep Making Electricity Temporarily Free | News World

Investors are wary of consumers getting a free ride.

Going Subzero

The supply of renewable energy is soaring across Europe, to the point where the cost of electricity is dropping to zero — and even, in some rare instances, going negative.

On one hand, that’s a boon for plenty of consumers, not to mention the environment. But businesses are now starting to worry that these upside-down economics could cause the demand for bigger and better renewable power projects to taper off, Bloomberg reports.

“Negative pricing is going to slow down the deployment of renewable capacity for most players,” solar developer Sonnedix CEO Axel Thiemann told the outlet. “That affects your ability to invest at reasonable levels.”

Free Lunch

It’s a bizarre inversion of benefits and incentives. Negative power prices occur when high power generation coincides with low demand, something that tends to happen most often on public holidays. As a result, renewable energy providers offer up electricity for negative…

Source futurism.com

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