German Industrial Energy Prices Coming Down
Energy bills for German industry are coming down despite the shutdown of nuclear power. No doubt part of this is the massive effect of renewables on the commercial market. It shows that bold solar (and renewable) moves can have big payoffs for a market. Here is an excerpt from the story in Renew Economy:
Öko-Institut and DWI have produced a new cost indicator for industry. The researchers find that German industry bills are down by 10 percent relative to 2010, the year before Chancellor Merkel’s nuclear phaseout.
To be fair, one of the main effects only began in mid-2015, when the price of fossil fuels began to drop on global markets. And in the cost index below, the precipitous drop in 2010 is also the result of dramatically plummeting fossil fuel prices in the wake of the financial crisis.