On May 27th, Germany encountered an unexpected phenomenon amidst its vigorous development of solar energy: electricity prices plummeted to negative values, meaning consumers not only didn't have to pay for electricity usage but could actually receive payments.
According to reports from national media, Germany added a staggering 14,280 megawatts of photovoltaic capacity last year, nearly double that of the previous year, leading to a surge in electricity generation that surpassed consumption needs.
This surplus situation has led to a peculiar occurrence in the energy market, where at certain times, the supply of electricity exceeds demand, resulting in negative electricity prices.
Reports indicate that the drop in electricity prices has harmed the profits of solar power companies, not only slowing down the further expansion of the solar industry but also potentially hindering overall carbon emission reduction efforts.
However, the crux of the issue lies in the efficiency of electricity consumption, as consumers often use electricity the most at night when the sun is not shining, leading to significant wastage of electricity during the day.
California in the United States is also facing a similar challenge, where declining electricity prices have slowed down the installation of solar panels, impacting the state's progress towards achieving carbon neutrality goals.
To address this issue, both Germany and California are seeking long-term solutions by installing energy storage facilities. These facilities can store excess solar energy for consumers to use during cloudy days or peak evening electricity demand, thereby enhancing energy utilization efficiency.
