Wind, Solar and Electricity Prices in Europe, 2026

• Across 39 European bidding zones with data to 2026-11-11 (11 November 2026), 32 showed a negative correlation between the daily wind and solar share of generation and the day-ahead price. The strongest was Estonia (-0.74) and the weakest Romania (+0.24). Correlation is not causation.
• 32 of 39 zones had a negative correlation and 7 a positive one, over windows that end between 2026-11-03 (3 November 2026) and 2026-11-11 (11 November 2026).
• Lithuania had the highest average wind and solar share of daily generation, 78%, over 294 days to 2026-11-10 (10 November 2026).
• Estonia had the strongest negative link (-0.74): a strong tendency for days with more wind and solar to have lower average prices.

For every day in a zone's window we take the share of that day's electricity generation that came from wind and solar, and the day-ahead price averaged over that day. We then compare the average price on the quarter of days with the highest share against the quarter with the lowest share, and compute a Pearson correlation between the two daily series. A correlation of -1 means the price always falls as the share rises, +1 that it always rises, and 0 that there is no straight line relationship.

Correlation is not causation. Wind and solar output moves with the season, the weather and demand, and so do gas prices, imports and holidays, so a link between the two can reflect all of those together. These are daily figures: they say nothing about individual hours, and a zone with a weak daily correlation can still have very low prices in the windiest or sunniest hours. Prices are in each zone's own currency per MWh and are never converted, so the ranking below compares correlation coefficients only, not price levels.

Zones with fewer than 120 usable days, or whose data stopped more than a month before the newest day, are left out. A day is skipped when a price, wind or solar reading is missing or zero, or when reported generation is under 60 percent of demand.