https://www.imf.org/-/media/Files/Publications/WP/2022/English/wpiea2022220-print-pdf.ashx https://www.imf.org/-/media/Files/Publications/WP/2022/Engli... > We

https://www.imf.org/-/media/Files/Publications/WP/2022/English/wpiea2022220-print-pdf.ashx https://www.imf.org/-/media/Files/Publications/WP/2022/Engli... > We find that renewable energy is associated with a significant reduction in wholesale electricity prices in Europe, with an average impact of 0.6 percent for each 1 percentage points increase in renewable share. We also find evidence for a nonlinear effect—that is, higher the share of renewables, the greater its effect on electricity prices. On the other hand, while quantile estimation results are mixed with regards to the impact of renewables on the volatility of electricity prices, we obtain evidence that renewable energy has a negative effect on volatility at the highest quantiles. Having people betting on energy markets sounds like a bad thing. When the people betting (and apparently winning those bets) also have false beliefs about renewables raising wholesale energy prices that are contradicted by evidence? Well, at the very minimum, it's not a good look. At worst it's Enron. In Australia the introduction of grid batteries made its money back in slightly over a year not because of buying and selling electricity, but from undermining the price setting collusion of the gas operators.