The article doesn't focus much on spot pricing, which is really important in what is going to happen in the future. They showed a big drop in utility revenue during peak hours. This revenue used to be caused by high usage multiplied by really high prices. Now its high demand multiplied by moderate prices.
If solar adoption continues along the path described (which is inevitable at this point, considering steadily dropping solar PV equipment prices) then the midday spot price will continue to drop as well.
We'll find out some answers to the question, what do you do when the spot price of electricity approaches 0?
Water desalination.
Pump water uphill.
Charge electric car batteries.
Electrolysis to convert water to hydrogen, for later use in fuel cells or combustion engines.
We will certainly see some innovation in short term energy storage, since the price of electricity just before the late afternoon peak will be much lower.
Comments
The article doesn't focus much on spot pricing, which is really important in what is going to happen in the future. They showed a big drop in utility revenue during peak hours. This revenue used to be caused by high usage multiplied by really high prices. Now its high demand multiplied by moderate prices.
If solar adoption continues along the path described (which is inevitable at this point, considering steadily dropping solar PV equipment prices) then the midday spot price will continue to drop as well.
We'll find out some answers to the question, what do you do when the spot price of electricity approaches 0? Water desalination. Pump water uphill. Charge electric car batteries. Electrolysis to convert water to hydrogen, for later use in fuel cells or combustion engines.
We will certainly see some innovation in short term energy storage, since the price of electricity just before the late afternoon peak will be much lower.