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With the advancements in technology now and in the near future, power plants seem to get redundant, as electricity consumers will also become the producers. That is what to expect if the whole thing with electric vehicles and home solar cells will really gain on the market.
According to market analysts at UBS, domestic solar energy will make people go off the grid, while the demand for electric vehicles will also help a lot by providing better and cheaper batteries to store the energy created.
We already heard about a new generation of more efficient solar panels, but electric cars seem to play a major role here. If people start to buy more and more EVs, it is estimated that by 2020, their batteries will cost half of the actual price, putting them on the same page with combustion engine powered ones.
“By 2020 investing in a home solar system with a 20-year life span, plus some small-scale home battery technology and an electric car, will pay for itself in six to eight years for the average consumer in Germany, Italy, Spain, and much of the rest of Europe,” the report states.
Don’t get it wrong though, the energy created by the solar panels during the day will also have to feed your car’s battery during the night, so not the cheap EV is the actual key here, but the cheap batteries which will be used to store electricity for the household.
The demand for electric vehicles will only allow battery producers to make them more efficient while cutting down the production costs, much like it happens with any other new product on the market that generates a huge demand.
We already heard about a new generation of more efficient solar panels, but electric cars seem to play a major role here. If people start to buy more and more EVs, it is estimated that by 2020, their batteries will cost half of the actual price, putting them on the same page with combustion engine powered ones.
“By 2020 investing in a home solar system with a 20-year life span, plus some small-scale home battery technology and an electric car, will pay for itself in six to eight years for the average consumer in Germany, Italy, Spain, and much of the rest of Europe,” the report states.
Don’t get it wrong though, the energy created by the solar panels during the day will also have to feed your car’s battery during the night, so not the cheap EV is the actual key here, but the cheap batteries which will be used to store electricity for the household.
The demand for electric vehicles will only allow battery producers to make them more efficient while cutting down the production costs, much like it happens with any other new product on the market that generates a huge demand.
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