28 Aug '14, 11pm

Electric cars and home solar could replace power plants, say UBS

Increasing home energy production, cheaper electric cars and improved battery technology could see large-scale power stations become redundant over the next 10-20 years according to market analysts at UBS. In a new briefing paper sent to investors this week, the world’s largest private bank says it expects that domestic solar energy will replace large-scale, centralised power stations, as the technology becomes more cost-effective and improved batteries enable homes to store their own intermittent sources of energy. The paper says: large-scale power generation “will be the dinosaur of the future energy system: Too big, too inflexible, not even relevant for backup power in the long run.” Electric cars will play an important role in helping homeowners to see the benefit of home energy production, using their renewably-produced electricity to recharge their cars and save thou...

Full article: http://www.thegreencarwebsite.co.uk/blog/index.php/2014/0...

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