The dominant role that renewables — particularly solar — will play in the future of our energy consumption seems to have finally sunk in at the Big End of Town. In Europe at least. A recent report from financial giant UBS of Zurich is predicting nothing less than a solar technology revolution.
The hard-hitting briefing paper for investors and clients questions the long term relevance of large-scale coal-fired power plants by predicting their demise within 10-20 years. It says that solar energy and storage will be
“disruptive technologies for the electricity system” and that “steeply declining battery and solar system costs will enable multiple new applications” in the energy sector.