As solar power and other renewable-energy sources drop in cost, a future that lets you generate and store your own electricity on the cheap may not be far off. Although this is great news for the consumer, utility companies will take a big hit.
Tesla Motors, who
The factory’s future output of efficient batteries will help bring to light the idea that producing electricity in small quantities near the point of use rather than in small amounts in few places may be a more viable option for the future. This idea isn’t new, but past ventures have proven unprofitable, since they used
Renewable sources and batteries are not the only cheap energy alternatives. Fracking has made natural gas quite cheap in the USA, and there are electrical systems which can run almost entirely on natural gas.
Another electrical advance has been made in
The most disruptive new power source, however, is solar
panels. With Tesla’s promise of cheap batteries, Californian households could run off a solar/storage system for about $350 a year. So
far this new electrical system represents only 1% of America’s installed capacity, but it may represent up to a third by
To read more about this visit The Economist.
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