Despite meager construction of new photovoltaic systems in Germany, unusually sunny skies this year have already ensured a record supply of solar power in the country.
Initial estimates by the German Association of Energy and Water Industries (BDEW) indicate that Germanys PV systems generated 33,193 gigawatt hours of solar electricity through the end of September already accounting for a 5.2% increase over the entire 12 months of 2014. Indeed, every month in the third quarter this year surpassed last years figures by double digits, according to BDEW estimates.
Far surpassing PV generation, wind power in September alone exceeded the previous year by 126%. Overall, wind generated 59,006 gigawatt hours through the end of September, BDEW reported already 52% higher than the entire year in 2014.
Renewable energy contributed a total of 114,723 gigawatt hours of electricity in Germany in the first nine months of the year 19.5% higher than in 2014 and nearly twice as much as the nuclear energy produced in the same period.
Electricity prices on the futures market have continued to decline. Based on Septembers figures, the price of baseload power for next upcoming year will be below 30 per megawatt hour on monthly average for the first time in more than a decade. Likewise, the price of peakload power is currently almost at the same level as it was in 2002. The high supply of PV and wind power in particular has resulted in prices below last years levels.