Uncontrolled and unmitigated rising costs of solar panels are the greatest obstacle towards its development.
Key factor seems to be that we expect “grid parity”, the point where solar+storage costs undercut the cost of utility power, – to come within the 30 year lifetime of conventional power plants being built today.
That means potential huge stranded assets for utilities and their shareholders, unless plans are made for a smooth transition to new technology. Based on the record of technological innovation in recent decades, I’d bet that grid-parity will come sooner, rather than later, than projections.
The rapid development of rooftop solar and battery storage technology could be as transformative to the economy and modern life as the U.S. oil and gas boom, Energy Secretary Ernest Moniz said.
“It’s pretty dramatic,” Moniz said yesterday in an interview with Bloomberg News at the IHS CERAWeek conference in Houston. “They are growing very, very fast.”
Batteries allow customers with solar panels to store energy during the day…
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