In Germany, when demand for electricity is low, and weather conditions are right, consumers benefit. Over the Christmas period in 2017, for example, when demand from major energy consumers was low and unseasonably sunny conditions fueled the country’s wind and solar power plants, the price of power actually dipped below zero, The New York Times reported. Periods of negative pricing can lead to lower electricity bills over the course of a year.
The future of energy production:
- Germany has invested more than $200 billion USD in renewable energy sources over the past few decades. So when the weather is windy or sunny, German plants end up with excess electricity.
- Traditional power grids, typically powered by fossil fuels like coal, are designed to create enough energy to meet demand. Renewable energy sources produce power based on atmospheric conditions.
- The International Energy Agency predicts that by 2040, renewable sources will drive 40 percent of global power generation.