Monday, September 15, 2014

Soon Europe Might Not Need Power Plants – A New Energy Revolution Is Coming

It’s time to join the energy revolution. Everyday, more people across the globe are starting to realize that our current ways of generating power are out-dated.

The worlds largest private bank, UBS, is urging investors to join the clean, renewable energy movement. Analysts at the bank say that power plants in Europe might be extinct within the next 10 to 20 years.

Most of the plants retiring in the future will not be replaced, large scale power plants could be on the path to extinction.”(source)

In a briefing paper sent out to clients last week, they state that centralized power stations are too big and inflexible, that they are completely irrelevant for future power generation. The report also outlined how it will be cheaper and more efficient for businesses and homes to generate their own electricity to power homes and cars, as well as store any excess energy without any subsidies.

The report also details how investing in home solar energy systems with a life span of 20 years, an electric car and small scale battery powered appliances will pay for itself in six to eight years in various countries throughout Europe. The report outlines how, for example, a German buyer should receive 12 years of electricity for free for a system that would be purchased in 2020.

Like many other people around the world, the bank is expecting a complete paradigm shift.

In most sunny parts of the world it is cheaper to generate power from photovoltaic modules on your roof than to buy it from your utility. The best newly built windfarms are selling power at the equivalent of 3p/kWh before subsidies, which neither gas, nor coal, nor nuclear power can match. LED lightbulbs can be bought for a few pounds, providing home-owners a quick and cheap way of cutting their utility bills. What is even more important is that the cost reductions that have led to this point are set to continue inexorably, far out into the future.”(source)

UBS says that centralized fossil fuel generation will become extinct, and that it will happen sooner than people realize.

For the rest of the story:

1 comment:

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