"Thierry Lepercq, head of research, technology and innovation at the French energy company Engie SA, said in an interview at Bloomberg that he sees a potential for the cost of solar electricity to fall below $10-megawatt hour (1¢/kWh) in the sunniest climates by 2025. Lepercq believes “solar, battery storage, electrical and hydrogen vehicles, and connected devices are in a ‘J’ curve (of upward growth potential).” One consequence of this new energy economy is that, “the price (of oil) could drop to $10 if markets anticipate a significant fall in demand.” “The promise of quasi-infinite and free energy is here.”..
Other forms of energy are requesting economic support (coal & nuclear) while we transition away from them toward cheaper sources...
There will be real world long-term consequences..."
30 December 2016
"The promise of quasi-infinite and free energy is here"
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I think there will be a more complicated see-saw effect as prices come down. If oil gets too cheap, it WILL be utilized much quicker and cause an increase in it's price. If this instability is found to be from cheap solar, then they will regulate those prices (or that of the gasoline).
ReplyDeleteIf there is $.99/gallon gas, I'm not going to lie... I will have something that burns more.