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Grid parity
Key Excerpts from Article on Website of Washington Post blog
Posted: September 26th, 2014
http://www.washingtonpost.com/blogs/innovations/wp/2014/03/2...
Whats good news for those concerned with climate change, and bad news for electric utilities? Thats grid parity. It exists when an alternative energy source generates electricity at a cost matching the price of power from the electric grid. As grid parity becomes increasingly common, renewable energy could transform our world and slow the effects of climate change. Advances in solar panels and battery storage will make it more realistic for consumers to dump their electric utility, and power their homes through solar energy. A 2013 Deutsche Bank report said that 10 states are currently at grid parity: Arizona, California, Connecticut, Hawaii, Nevada, New Hampshire, New Jersey, New Mexico, New York and Vermont. Germany, Spain, Portugal and Australia have reached grid parity. This shift has benefited from a dramatic drop in the price of solar panels, which dropped 97.2 percent from 1975 to 2012. As solar energy gets cheaper, traditional electric utilities are doing the opposite. The cost of maintaining the electric grid has gotten more expensive, but reliability hasnt improved. If customers leave electric utilities, it starts a downward spiral. Fewer customers will mean higher rates, which encourages remaining customers to jump ship for a solar-battery system. Energy upstarts are led by forward thinkers with disruptive track records and eyes on societys big problems.
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