Two million European households could abandon the electrical grid by 2050
Researchers report that 53% of European freestanding homes could have supplied all their own energy needs in 2020 using only local rooftop solar radiation, and this technical feasibility could increase to 75% in 2050. The study shows that there is no economic advantage for individual households to be fully self-sufficient under current or future conditions, though in some cases the costs are on par with remaining on-grid. The researchers estimate that self-sufficiency will be economically feasible for 5% (two million) of Europe’s 41 million freestanding single-family homes in 2050, if households are willing to pay up to 50% more than the cost of remaining fully grid dependent.
Related Knowledge Center: ENERGY BASICS: solar
Declining costs and government encouragement have resulted in a rapid increase in solar energy production in the United States over the past 10 years, although solar’s share remains small: 1.6 percent of all electricity generation in 2018. That rapid growth is projected to continue.
Related Knowledge Center: ENERGY BASICS: electricity
Electricity is a secondary energy source: it is generated through the conversion of primary energy sources such as natural gas, coal, solar, hydropower, and wind. Electricity’s versatility is not cost-free: a substantial amount of energy is lost in its generation and the cost of storage is high, compared with fuels such as coal, oil and natural gas. The economics of battery technology hold the key to expanded use of renewable sources to generate electricity.