Leading investment bank UBS says the payback time for unsubsidised investment in electric vehicles plus rooftop solar plus battery storage will be as low as 6-8 years by 2020 – triggering a massive revolution in the energy industry.
“It’s time to join the revolution,” UBS says in a note to clients, in what could be interpreted as a massive slap-down to those governments and corporates who believe that centralised fossil fuel generation will dominate for decades to come.
UBS, however, argues that solar panels and batteries will be disruptive technologies. So, too, will electric vehicles and storage.
By the end of the decade, it says, the combination of will deliver a pay-back time of between six to 8 years, as this graph below shows. It will fall to around 3 years by 2030. Right now, the payback is probably around 12 years, enough to encourage the interest of early adopters. You can read more here on Why EVs will make solar viable without subsidies.
The UBS report is focused on Europe, where it says that Germany, Spain, and Italy will be leaders because of their high electricity and fuel costs. But it could equally apply to Australia, which has both high electricity and high fuel costs, and a lot more sun – so solar is much cheaper.
For the full article please visit: http://reneweconomy.com.au/2014/ubs-time-to-join-the-solar-ev-storage-revolution-27742
