Across Australia, installing solar panels backed by a home battery pack now yields electricity at a lower price than the conventional grid, and will continue to even if grid prices stay flat, according to a report from Bloomberg New Energy Finance. The company forecasts that, by 2040, half of the country’s electricity will be generated where it’s used. Bloomberg calls the technology shift “unstoppable” but still sees a role for the conventional electric grid in providing backup service and meeting concentrated demands for huge amounts of power, such as from computer server farms.
TRENDPOST: Though there’s little indication it’s afoot, electric companies have to change their business model to stay ahead of the trend.