Last year, Europe was on the brink of an energy breakdown as Russian gas flows dried up and most of Europe doubled down on renewable energy. The renewable energy bet paid off, in a way. Solar and wind electricity generation in Europe hit a record in 2022. In fact, for the first time in history, wind and solar together produced more electricity than natural gas-fired power plants. There was just one problem with that. Lower hydro and nuclear output more than wiped out the significance of that record output. Droughts were severe in Europe…
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