As the Trump administration continues to debilitate the United States’ path to green power, other parts of the world are all-in on renewable energy.
In fact, some countries have ramped up green energy generation so much that prices are dropping precipitously — and venture capitalists are unhappy as their margins take a big hit.
As Bloomberg reports, investors, utilities, and banks have invested over $80 billion in renewable energy in Spain. As a result, a major surplus in electricity has caused the value of solar parks to plummet, with investors looking to jump ship.
Spain even experienced negative energy prices last summer, an unusual but increasingly common phenomenon that turns the economics of green energy on their head. This year is no different, with the country already exceeding its annual record for the time producers end up paying customers to take on all that excess energy in the first six months.
