German Solar Records May Keep Traders Busy on Weekends
Germany’s planned decade-long, 120 billion-euro ($127 billion) shift to cleaner energy from fossil fuels has made the nation the biggest economy in the world to rely so heavily on renewable power.
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Germany’s electricity traders may face busy weekends as sunny weather positions the nation for a season of solar power records.
After Wednesday’s all-time high of 27.7 gigawatts, Europe’s biggest electricity market is poised for new highs in the next few days or weeks, according to group meteorologist Marcus Boljahn at MeteoGroup. The previous record of 24.2 gigawatts was set on June 6, 2014, when fewer solar panels were installed, the weather forecaster said. One gigawatt is about equal to the capacity of a nuclear reactor.