Bloomberg Reports on Renewable Energy's Unintended Consequences

This is the same Bloomberg that tried to entice Georgetown into an open-ended experiment with roof mounted solar panels and batteries with a $1M grant. Yahoo Finance

"(Bloomberg) -- The road to a world powered by renewable energy is littered with unintended consequences. Like a 40,000% surge in electricity prices.

Texas power prices jumped from less than $15 to as much as $9,000 a megawatt-hour this month as coal plant retirements and weak winds left the region on the brink of blackouts during a heat wave. It’s a phenomenon playing out worldwide. Germany averted three blackouts of its own in June and has seen prices both spike and plunge below zero within days as it swaps out coal and nuclear energy for wind and solar. In the U.K., more than a million homes lost power on Aug. 9, in part because a wind farm tripped offline.

Meanwhile, in Texas, the grid is becoming increasingly exposed to the swings of wind generation. The run-up in electricity prices earlier this month was in part because generation from farms sank to the lowest level in months.

Unlike Texas, some regions use capacity markets to ensure there’s enough power to keep the lights on. In these, plants get paid to guarantee power during a certain time period, even if it turns out the market doesn’t need their electricity."