While the death of fossil fuels has been predicted, and the dates have come and gone, this latest prediction doesn’t focus on when fossil fuels will run out, but when alternative energy will surpass fossil fuels in cost and efficiency.
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A new tool produced by Imperial College London uses data on the prices and installed capacity of battery storage to project how quickly their prices would reach levels that would compete with other energy sources. The findings, published today in the journal Nature Energy, suggest electric cars will match gasoline engines’ costs per mile sometime between 2022 and 2034 — and a solar-battery combination could be as cheap as today’s retail electric bills between 2027 and 2040.
The program allows researchers to plug in existing data to project when developing technologies to become cost-effective, co-author Iain Staffell, of Imperial’s Center for Environmental Policy, said in a statement on the study.
“This tool allows us to combat one of the biggest uncertainties in the future energy system,” Staffell said.
A new study forecasts electric vehicles becoming cost competitive with gas vehicles by 2034 and solar energy as cheap as conventional pow…