In August 2014, UBS sent a briefing to clients and investors saying that it expects a paradigm shift away from large-scale conventional power plants and towards generation of clean power by homes and businesses. “By 2020 investing in a home solar system with a 20-year life span, plus some small-scale home battery technology and an electric car, will pay for itself in six to eight years for the average consumer in Germany, Italy, Spain, and much of the rest of Europe […] As a consequence we expect transformational changes in the utility and auto sectors.
As stated in the UBS briefing, the home solar system envisaged as available by 2020 would likely cause “transformational changes in the utility and auto sectors.” A mass switch to de-centralised generation of carbon-free energy by households and businesses would greatly assist climate change mitigation, and up-end the traditional relationship between consumers and utility companies.
This signal indicates that a transition to a new energy paradigm may possibly occur as soon as 2020.
Image: PilotGIrl / Flickr
The Guardian (2014, August 27). Big power out, solar in: UBS urges investors to join renewables revolution