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Solar power will be 1¢/kWh by 2025: “The promise of quasi-infinite and free energy is here.”


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Wow!

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.”

The key argument being pushed regarding renewables by Lepercq is price – nothing to do with environmental concerns at all. From a business perspective, Engie is hoping to grow into the microgrid market in the coming years – as can be noted by the combination of technologies and studies from the article:

In France, Engie recently conducted a “very deep modeling” of the Provence-Alpes-Cote d’Azur region of 5 million inhabitants, showing it could run entirely on renewables by 2030 for as much as 20 percent less cost than the current energy system, Lepercq said. Solar, wind, biogas, large-scale battery storage and hydrogen would be key elements.

As we’ve seen in the past year, the price of utility scale solar electricity in sunny climates has plummeted. This has led to significant thought about what the results of “quasi-infinite and free energy” could lead toward. Israel has solved water problems in a desert with the largest solar desalination plant on the planet. China has suggested a $50 trillion global HVDC electricity grid to take advantage of global renewable energy resources. Not to mention that a massive build out of solar power would add tens of millions of jobs globally.

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There will be real world long-term consequences – $10/barrel oil might be one – for these coming low energy prices. What a surprise of course – most of the naysaying has been that renewables were too expensive, soon we’ll hear about how they’re too cheap.

Reddit comment:

We just need good energy storage. I live in the Netherlands and generate enough electricity in a year to power my house. The problem is that like 80% is generated in 6 months, and the other 20% in the other 6 months.

Luckily I get paid for my excess of electricity in the sunny months, because it just goes into the main net for other people to use. So in the end I don't pay for my electricity but in the colder months I am not using solar energy.

A second revolution is needed in energy storage.

800 Reddit comments:

https://reddit.com/r/Futurology/comments/5kdtta/2016_was_the_year_solar_panels_finally_became/

30,000 solar panels will be installed every hour around the world over the next 5 years.

100+ Reddit comments:

https://reddit.com/r/Futurology/comments/5kcv2i/30000_solar_panels_will_be_installed_every_hour/

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