29 Mar '14, 4pm

Former US energy secretary Chu: Utilities need to respond to 'disruptive' solar-plus-batteries

Chu: Solar and storage will be disruptive to utilities' business models. Former US energy secretary Steven Chu has claimed battery storage technology used in combination with solar could be “as disruptive to electricity distribution and generation as the internet”. According to Chu, in order to remain competitive, utilities need to respond by applying a new business model to prepare for the likely coming of cheap solar power and falling prices of residential storage batteries. Speaking at a University of Chicago event earlier in the month, the Nobel Prize-winning physicist gave an often light-hearted and humorous talk on “energy, innovation and global climate change”, in which he discussed the changing energy landscape of the USA and the world. Chu explained that as the cost of PV modules plummeted and battery prices also fell, it was possible to envisage a situation in fi...

Full article: http://www.pv-tech.org/news/former_us_energy_secretary_ut...

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