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Chile Has So Much Solar Energy It’s Giving It Away for Free

  • Spot prices reached zero for 113 days this year through April
  • Solar power on Chile’s central grid quadrupled since 2013
Inside BYD Co.'s Vehicle Assembly Plant and Headquarters
Photographer: Brent Lewin/Bloomberg
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Chile’s solar industry has expanded so quickly that it’s giving electricity away for free.

Spot prices reached zero in parts of the country on 113 days through April, a number that’s on track to beat last year’s total of 192 days, according to Chile’s central grid operator. While that may be good for consumers, it’s bad news for companies that own power plants struggling to generate revenue and developers seeking financing for new facilities.