Europe’s Negative Power Prices Highlight the Need for Energy Storage Investment

European wholesale electricity markets have seen zero or negative power prices for the most hours on record this year amid soaring renewable energy generation and a mismatch between supply and demand hours for solar power. Zero or negative wholesale power prices have started to slow investment in capacity additions and make the case for the need for higher investment in energy storage, through which power producers would avoid curtailing electricity output or having to pay to offload electricity, according to a Reuters analysis. The number…