Europe: Solar energy production increased in week 21

According to AleaSoft Energy Forecasting, in the week of May 20, prices in the main European electricity markets rose following increases in gas and CO2 prices. TTF gas and CO2 futures reached the highest values since the first half of December 2023 and January 2024, respectively. Even so, most markets registered negative hourly prices, primarily over the weekend. Solar photovoltaic energy set all-time production records again in Spain, Portugal and Italy. Wind energy production declined in most markets.

In the week of May 20, solar energy production increased in most major European electricity markets compared to the previous week. The Portuguese market registered the largest increase, 27%, followed by increases of 18% in the French market and 13% in the Spanish market. The Italian market registered the smallest increase, 7.6% in this case. The exception was the German market, where solar energy production decreased by 7.5%, reversing the upward trend of the last four weeks.

In the Spanish, Portuguese and Italian markets, solar photovoltaic energy set historical production records. On Friday, May 24, the Spanish and Portuguese markets registered their highest daily production ever, 196 GWh and 21 GWh, respectively. The Italian market registered the production record on Sunday, May 26, with a generation of 142 GWh using this technology.

In the last week of May, according to AleaSoft Energy Forecasting’s solar energy production forecasts, it will increase in Germany and Spain. On the other hand, solar energy production will decrease in Italy, AleaSoft Energy Forecasting reports.

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