吴忌寒：欧洲光伏过剩问题恶化，比特币挖矿可充当电力“最后买家”

Odaily Odaily星球日报讯 Wu Jihan posted on X platform, stating that Europe's current solar energy problem is no longer just about increasing power generation, but rather a lack of sufficient flexible electricity demand to absorb excess energy. Citing the latest analysis from energy research firm Pexapark, he pointed out that the phenomenon of solar "self-cannibalization" in Europe is rapidly worsening:

1. In France, the solar capture factor for April 2026 dropped year-over-year from approximately 0.42 to 0.10, a decline of about 75%. Nearly half of all solar power generation occurred during periods of negative electricity prices.

2. In Germany, there were 123 hours of negative electricity prices in April, a year-over-year increase of 65%. Approximately 46.8% of solar power generation occurred during negative price intervals.

3. Spain's problem is no longer confined to summer. In February 2026, the solar capture factor plummeted from approximately 0.71 in the same period last year to 0.18. Meanwhile, the duration of negative electricity prices surged from 0 hours to 148 hours.

Wu Jihan noted that this indicates the pace of solar energy deployment in Europe has outstripped the speed of building grid system flexibility. In addition to energy storage, grid expansion, and demand response, Europe should also focus on interruptible loads, including Bitcoin mining and other computational loads. Such loads can be activated when power is abundant and shut down when the grid is under stress, thereby acting as the "buyer of last resort" for excess renewable energy. This would reduce curtailment, improve the revenue of solar projects, and enhance the profitability and financing feasibility of power generation and grid infrastructure investments.