“Sub-zero cost of electricity is becoming a reality for hundreds of hours in many markets.”

Renewables are beginning to outstrip demand

#Environment

Thu, Aug 9th, 2018 11:00 by capnasty NEWS

According to Bloomberg, the increase of wind and solar farms is actually beginning to give headaches to traditional power suppliers as production is higher than demand. This forces operators to shut down coal or gas plants, eventhough these systems are not designed to be easily turned on and off at a whim.

Periods with negative prices occur when there is more supply than demand, typically during a mid-day sun burst or early morning wind gust when demand is already low. A negative price is essentially a market signal telling utilities to shut down certain power plants. It doesn’t result in anyone getting a refund on bills -- or in electric meters running backward.

Above, new report released by the United Nations Environment Programme (UNEP) citing positive progress on the transition to renewable energy but noting that the advances are uneven across sectors. Read more here.

  465

 

You may also be interested in:

Keep an Eye on Irene With New York Times' Beautiful Hurricane Tracker
100 Things We Can Do Today to Stop Global Warming in the Next 30 Years
"How we make our cars is actually a bigger environmental issue than how we fuel our cars."
Turn Waste Plastic into a Precious Resource
We're Running Out of Sand