UBS Study Sees Investing in Solar, Storage and Electric Car Quickly Paying for Itself

United Bank of Switzerland sees 10% of all car sales in Europe being EVs and that tied to small-scale home energy storage and electric cars will pay for itself in six to eight years in Germany, Italy, and Spain.

Published: 11-Sep-2014

Big power stations in Europe could be redundant within 10-20 years as electric cars, cheaper batteries and new solar technologies transform the way electricity is generated, stored and distributed, say analysts at the world’s largest private bank.

In a briefing paper sent to clients and investors this week, the Zurich-based UBS bank argues that large-scale, centralised power stations will soon become extinct because they are too big and inflexible, and are “not relevant” for future electricity generation. Instead, the authors expect it to be cheaper and more efficient for households and businesses to generate their own energy to power their cars and to store any surplus energy in their own buildings even without subsidies.

In language more closely associated with green NGOs, the bank with assets of more than $1.5tn says it expects a paradigm shift away from large-scale conventional power plants. “Power is no longer something that is exclusively produced by huge, centralised units owned by large utilities. By 2025, everybody will be able to produce and store power. And it will be green and cost competitive, ie, not more expensive or even cheaper than buying power from utilities,” say the authors, who urge their financial clients to “join the revolution.”

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