The Dynamic Duo - Solar Power and Electric Vehicles
by Scott Licamele | May 25, 2018
The electrification of transportation will displace over 7mbpd of oil by 2040 – and that’s based on overly conservative assumptions which don’t fully account for possible tech advancements in battery technology over the next 20 years (lower costs and greater efficiency). The synergistic combination of declining solar energy and battery costs will result in a virtuous cycle, ushering in the decarbonization of the global energy complex – all at a much faster pace than the market currently understands. Key themes will be: 1) a more rapid reduction of greenhouse gas emissions and 2) the economic and geopolitical decline of oil-dependent nations.
The chart graphic below is from a recent report by Bloomberg.
