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Science/Tech
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Title: Overpowered: Too much solar electricity makes Chile give it away for free
Source: [None]
URL Source: https://www.rt.com/business/345445-chile-free-solar-power/
Published: Jun 5, 2016
Author: Jose Manuel Ribeiro
Post Date: 2016-06-05 10:45:57 by Ada
Keywords: None
Views: 211
Comments: 8

Chile’s main solar power plants are supplying so much electricity that they have to give it away for free or face prices going down. The glut has been driven by the country’s booming copper industry.

Chile’s growing energy demand has prompted the development of 29 solar farms to supply the central grid. Booming mining production and economic growth have been the main drivers. The country is expected to install almost 1.4 gigawatts of solar power this year, up from 371 megawatts in 2015, according to Bloomberg , which is enough to supply hundreds of thousands of homes. Read more Reuters / Jorge Cabrera Solar panels can power the world – MIT study

However, paradoxically, spot prices reached zero in parts of the country on 113 days by April of this year, a number much higher than last year’s total of 192 days, according to Chile’s central grid operator, Bloomberg wrote.

While customers may well appreciate cheaper electricity, for energy companies struggling to generate revenue and cover the costs of maintaining their power plants, the drop in prices comes as bad news. Chile has two major power hubs, the central and northern grids, but the two are not connected to each other, which explains the stunning phenomenon.

A region in which a grid is located can overproduce power, prompting prices to fall, because the surplus cannot be transmitted to other parts of the country, Carlos Baria, the former chief of the government’s renewable-energy division, told Bloomberg.

Even more solar power plants have been built in the heart of Chile’s mining industry in the north, but as copper output slows amid a worldwide glut, economic growth stagnates too, meaning that power plants oversupply regions that lack the ability to distribute the electricity elsewhere.

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#1. To: Ada (#0)

Uhhh...build more transmission lines?

“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken

Lod  posted on  2016-06-05   11:10:00 ET  Reply   Trace   Private Reply  


#2. To: Lod (#1)

lol


"Define yourself as one beloved by God. This is the true self. Every other identity is illusion."—Brennan Manning

Rotara  posted on  2016-06-05   11:29:25 ET  Reply   Trace   Private Reply  


#3. To: Lod (#1)

Uhhh...build more transmission lines?

That costs money and there is no revenue coming in.

Ada  posted on  2016-06-05   11:58:51 ET  Reply   Trace   Private Reply  


#4. To: Ada (#3)

Issue bonds and build the lines, the revenue will follow.

This is not rocket science.

“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken

Lod  posted on  2016-06-05   13:13:25 ET  Reply   Trace   Private Reply  


#5. To: Lod (#4)

This is not rocket science.

Some people are not good at business.

Cynicom  posted on  2016-06-05   13:21:59 ET  Reply   Trace   Private Reply  


#6. To: Lod (#4)

Issue bonds and build the lines, the revenue will follow.

KIM that this is South America. Maybe revenues will follow and maybe they won't. The risk that they won't will be factored into the interest rate on the bonds and it might prove too high.

Ada  posted on  2016-06-05   19:30:53 ET  Reply   Trace   Private Reply  


#7. To: All (#0)

You should go to the source and read the comments there. Eye opening indeed. Electricity in Chile is quite expensive. And the minimum wage there is much lower than here in the U.S. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2016-06-05   19:55:38 ET  Reply   Trace   Private Reply  


#8. To: Cynicom (#5)

Some people are not good at business.

Maybe we should send part of the military there to help them sort out the mess and kill a bunch of poor people. Just saying.

After all, the Spaniards were there about 500 years ago. ;)

"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke

BTP Holdings  posted on  2016-06-05   20:00:52 ET  Reply   Trace   Private Reply  


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