Why energy may soon be free thanks to solar, wind, storage and big data
A solar energy farm being built in Yantai, Shandong Province of China Paying for electricity could soon become a thing of the past if analysts at Citi, a global investment bank, are to be believed.
Researchers at the bank have calculated that cheaper storage and smart data analytics may soon make solar and wind energy available to consumers in some parts of the world - completely for free.
“The notion of free energy came to prominence in the 1960s, as nuclear fusion was touted as a way to provide free energy,” researchers said in the report on disrutive innovation.
"Now, Big Data and advanced analytics are developing rapidly to improve forecasting, automation, customisation, and the democratisation of energy.
The end result is that we are producing more energy with fewer r...