The mitigation of climate change requires fast reductions in greenhouse gas emissions and calls for fundamental transitions of energy systems. In most places, the increased exploitation of variable renewable sources (wind and solar) forms the backbone of these transitions. To remain consistent with the Paris Agreement temperature goals, negative emission technologies will likely be needed to achieve net zero emissions in the second half of the century. In integrated assessment models, negative emissions are typically realized through land‐based approaches. However, due to their coarse temporal and spatial resolution, such models might underestimate the potential of decentrally deployable and flexible technologies such as Direct Air Capture (DAC). Based on validated high‐resolution power generation time series, we show that DAC can extract CO₂ from the atmosphere and facilitate the integration of variable renewables at the same time. It is a promising flexibility provider as it can be ramped within minutes. Our results show that negative emissions of up to 500 Mt CO₂/year in Europe may be achievable by using renewable excess energy only. Electricity systems with high shares of volatile renewables will induce excess generation events during which electricity is cheap thereby lowering the operational costs of DAC. If investment costs can be sufficiently reduced, this may render very energy intensive but highly flexible technologies such as DAC viable.