As the Trump administration continues to debilitate the United States’ path to green power, other parts of the world are all-in on renewable energy.

In fact, some countries have ramped up green energy generation so much that prices are dropping precipitously — and venture capitalists are unhappy as their margins take a big hit.

As Bloomberg reports, investors, utilities, and banks have invested over $80 billion in renewable energy in Spain. As a result, a major surplus in electricity has caused the value of solar parks to plummet, with investors looking to jump ship.

Spain even experienced negative energy prices last summer, an unusual but increasingly common phenomenon that turns the economics of green energy on their head. This year is no different, with the country already exceeding its annual record for the time producers end up paying customers to take on all that excess energy in the first six months.

While most Americans can only dream of that kind of scenario, California notwithstanding, negative energy prices can have ripple effects, slowing down the adoption of renewable energy — a regrettable misalignment between financial pressure and the shared goal of addressing a growing climate crisis.

“The economics have deteriorated so sharply that investors are trying to exit at steep discounts,” Spanish utility L’Energètica head Daniel Pérez told Bloomberg.

At least four solar parks have been put up for sale in the country, with owners getting lowball offers from potential buyers. Meanwhile, short sellers are looking to bet on their demise, adding to the industry’s woes.

One persistent problem is the lack of energy storage for all of that renewable power, with solar energy utilities making steep investments in battery facilities that can stockpile electricity during the day when there’s an excess of solar generation, saving it for nighttime or when the skies are cloudy.

Another pain point is the national grid, which has to quickly adapt to fluctuating rates of solar power generation, according to Bloomberg. The government is now scrambling to keep investors happy by promising grid upgrades and financial support for battery storage.

In short, on the surface, a glut of renewable energy sounds like an excellent problem to have. Residents in Spain enjoy some of the cheapest electricity rates in Europe. Yet a venture capitalist system hellbent on squeezing as much profit out of clean electricity as possible isn’t looking like a viable solution in the long term.

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