Solar Doubling Drives Down German Power Prices: Energy Markets
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Solar power may almost double in Germany this year just as a natural gas glut sends electricity prices to near five-month lows.
Capacity at plants converting sunlight to electricity in Europe’s biggest energy market will rise to 18,000 megawatts from 9,786 megawatts, according to Bloomberg New Energy Finance forecasts. No other power source will grow as fast, increasing the glut that emerged after last year’s recession, UBS AG said.