There's an obvious solution to this problem: nationalization. Spain should create a national solar energy company and undertake the necessary development directly, totally irrespective of profits.

This is likely to happen elsewhere too. As long we leave the energy transition in the hands of capital, we are hostage to its logic.

Remember, capital does not care about prices, it cares about profits. Renewables are cheaper than fossil fuels, but they are not as profitable.

So, capitalists are slamming the brakes on new solar investments in Spain, potentially threatening the government's targets.

As a result, energy prices have dropped. The FT reports that, during some parts of the year, energy prices are negative.

This is great for citizens, and great for the planet, but bad for capitalist profits.