Germany’s use of solar energy has lowered the cost of power in the country by 40%
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A new study from the Fraunhofer Institute, a research firm based in Munich, Germany, shows how effectively Germany has been able to keep energy prices low through the use of alternative energy.
Germany is currently one of the world leading authorities in sustainability. The nation has various alternative energy projects from which it is drawing power. These projects include hydrogen and wind power, but the country’s use of solar energy has lead it to the position it is in today.
According to the institute’s report, the country’s use of solar power has lowered the cost of energy in Germany by 40%.
This translates into a drop of over 10 cents per kilowatt hour. These prices are most noticeable during peak hours, such as mid-afternoon and sunny afternoons. This will have little effect on the cost of energy during late and early hours of the day, because the cost of energy during these times is already quite low.
Germany is home to the only and city in the world that is 100% energy sustainable.
The city of Freiburg is partly responsible for the dropping energy costs in the country. The city has a massive surplus of energy due to its innovative efficiency standards and often sells the excess energy to the German government at steep discounts. Some believe that this is paving the way for a very promising economic future in terms of energy.