Scandinavia is actually seeing a pattern where in the summer, there is so much electricity produced that it's approximately free, and in the winters, when solar panels produce nothing, there's not enough to go around so prices are sky high.
replyIt's a very weird situation where it's financially difficult to build new power because you'll be doing it entirely for free half the year, but then you get 4-5 months that are an absolute goldmine.
Which is pretty much the ideal conditions for coal plants, so they make a killing during the winter and then shut off during the summer.
We need something that works throughout the winter so we can finally get rid of the coal plants the whole year!
We do not need more power in the summer though, that's covered by solar already.
Denmark is very well suited for wind power.
A mix of renewables definitely seems like the way to go, but I also wonder whether we might start to see some seasonal industry based on power prices - bitcoin mines, or even aluminum smelters, which only run during summertime? Though I suppose less capital-intensive processes would make more sense.
replyThere is lots of talk of green steel in Sweden. The basic concept is to use the cheap energy during summers to produce hydrogen, and then burn that hydrogen to melt iron and make various alloys.
replySo far a few attempts have been made, lots of investments, but unfortunately it hasn't worked out yet.