Rooftop solar panels are driving electricity costs so low in Queensland, Australia that “the price, normally around $40-$50 a megawatt hour, hovered in and around zero” for several days, Parkinson reports. At one point, the wholesale cost of electricity went into the negative at mid-day—the point on the 24-hour clock where prices are supposed to be higher. With 1,100 MW of rooftop panels on 350,000 buildings across Queensland, solar “is producing electricity just at the time that coal generators used to make hay.” The impact “has been so profound, and wholesale prices pushed down so low, that few coal generators in Australia made a profit last year.”
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