When electricity demand is low and weather conditions are favorable in Germany, energy prices can dip below zero. Germany has invested over $200 billion in renewable energy sources, which produce energy based on weather conditions. The International Energy Agency predicts that by 2040, renewables will power 40% of global energy production.
In Germany, when electricity demand is low and weather conditions are favourable, consumers benefit. During the 2017 holiday season, for example, when demand from major energy consumers was low and unusual sunny conditions fueled the country’s wind and solar farms, the price of energy actually dipped below zero, according to reports. reported by the New York Times. Periods of negative prices can lead to lower electricity bills over the course of a year.
The future of energy production:
Germany has invested more than $200 billion in renewable energy sources in recent decades. So when the weather is windy or sunny, German plants end up with an excess of electricity.
Traditional electricity grids, usually powered by fossil fuels such as coal, are designed to create enough energy to meet demand. Renewable energy sources produce energy based on weather conditions.
The International Energy Agency predicts that by 2040 renewable sources will power 40% of global energy production.
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