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Europe to reach off-grid energy parity up to 20 years ahead of the US

01/18/2018

It is estimated that it will cost the same to self-generate and store power as it will to buy from an energy provider by 2022 in Europe ... according to new research conducted by EY and a leading global analyst house.

The findings project that US markets will take much longer to reach off-grid parity, and as late as 2042 in the Southeast region, where the energy sector is complex and highly regionalized.

The data also indicates that electric vehicles (EVs) will reach cost and performance parity with traditional combustion engine vehicles across all markets by 2025.

The research examines the expected adoption and interactive impacts on electricity demand and cost of 10 core distributed energy and information technologies[1] across Europe, Oceania and the US.[2] It calculates for the first time the inception of three critical energy tipping points:

1. When self-generation of power becomes affordable for all;

2. When EVs become mainstream mobility options; and

3. When delivering power via the grid costs more than it does for consumers to produce it themselves.

Many European countries have already begun to pivot their energy business models in response to regulatory pressure, an increased uptake of renewables and carbon-reduction targets. The findings indicate that US$67b in traditional utilities annual revenues will be at risk by 2050 from distributed solar generation in the region. Across US markets, it is anticipated that annually US$49b will be at risk, buoyed by the West coast (US$26b) where state policy is stimulating investment in distributed renewables.

http://www.powerengineeringint.com/articles/2018/01/europe-t...

Long term investments in fossil fuels, ICE vehicles and traditional utilities will need watching.

jaagu
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