John Shaw, Author of a new book iDisrupted published today, claims advances in technology will be the end of energy companies across the globe. These are exciting times in the world of renewable energy, but a new book iDisrupted claims it may not be so exciting for the major energy companies, and those currently pushing 20 year solar panel domestic installations as these will soon be redundant. Technological advancements in the production of solar panels have suggested that solar power will soon be as cheap as coal.
The price of crystalline silicon modules, which are currently used in solar panels has dropped from $4 per watt in 2007 to $0.50 per watt in 2014. Something sceptics suggested never could be done.
The price drop is through the application of a new low cost production method, a technology company, 1366, based in Massachusetts suggests that its new method of silicon wafer production can further reduce the costs. They claim they are able to cut the overall cost of a crystalline silicon module by a further 20%, effectively the same cost as coal. Experts are predicting that over the next decade the price could drop to as low as $0.25.
But one question still remains, who will pay for the grid infrastructure if energy companies no longer continue to make money on power production?
Mr Shaw say: “A major factor to consider is that at the end of April, Elon Musk will introduce a new battery technology which is set to disrupted the way we power our homes. Currently, the future of energy is uncertain but if one thing's for sure, it’s that traditional energy companies will cease to exist.”
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