Profit-making idea: Solar really is set to replace conventional power

Profit-making idea is a series of short posts, each with a piece of information that we think you might find useful: for investment, for growing your company or to start a new business.

“Two things are happening: first of all the cost of solar… is absolutely tumbling worldwide. I’m not talking just about domestic rooftop stuff – [I’m talking] utility-scale solar.

“Secondly, storage technology is starting to creep up… There is probably a point five to 10 to 15 years in the future, where if you have the right storage technology… all you need is solar plus storage. Maybe if you’ve got a lot of wind, you can have some wind as well. You don’t need large hyrdos, you don’t need large coal plants, you don’t need large nuclear plants, you don’t need large gas plants… This is pure economics – we are getting there. Even in developed economies this is going to gradually happen… In African countries I think it is going to happen faster, because the grid isn’t there at all, in most economies.”

– Jonathan Berman, MD, Fieldstone Africa