Barclays has calculated that it will not be government regulation that will phase down coal-fired power plants first, but rather the advance of renewable technologies and the continued decline in costs of those technologies. The Barclays credit team believes that, over the next few years, the “confluence of declining cost trends in distributed solar photovoltaic (PV) power generation and residential-scale power storage is likely to disrupt the status quo”. Barclays notes that the cost of home solar power with a storage option is already cost competitive with traditional utilities in Hawaii, and California, Arizona and New York won’t be far behind. The bank expects 20% of US electricity consumers will be able to have access to solar with energy storage that will be as cheap or cheaper than utility power within 4 years.
Posted on: Tue, 24 Jun 2014 16:44:17 +0000
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