Renewable energy boom will mean vastly cheaper electricity
Renewable energy, combined with prolific battery storage, will soon result in vastly cheaper electricity — and solar power that’s less expensive than what fossil fuel-based power plants can produce.
Additionally, solar power with lithium-ion and flow-battery storage systems will make the combination of renewable energy so inexpensive that it will surpass nuclear power and obviate the need for futuristic power sources such as fusion, according to Tesla CTO JB Straubel.
“I think we’re at the beginning of a new cost decline curve. Almost no one today would have predicted photovoltaic prices would have dropped as fast as they have, and storage is right at the cliff heading down that price curve,” Straubel said.