According to a report from Bloomberg, solar production hit a new record in Germany on Tuesday at midday CET. This development marks a noticeable increase in renewable energy’s share of power generation.
The outlet reports that Germany’s renewable output reached as high as 47,198MW, as stated by the European Energy Exchange (EEX) AG. BloombergNEF adds that the country’s solar generation is on track to increase by 34% during summer 2024 compared to 2023 data.
This record follows a Europe-wide trend of increased generation from expanded solar farms, due to the region’s sunny summer weather. This combination has further pushed out reliance on gas and fuels for power.
While the sun reaches its peak during midday, it follows that the price of power declines as the grid suffers an overabundance of production. However, there are other parts of the day when gas is still relied upon and prices rise steeply again.
Bloomberg notes that day-ahead power contracts for delivery in Germany decreased to €75.60 per MWh, in contrast to France’s €45.74 drop. As Berlin expects highs of 26C on Wednesday, an increase in air conditioning use is expected to take up an increased amount of overabundantly produced solar energy.
