Set The Controls For The Heart Of The Sun: Investors Bet On Renewable Energy

In a move that would have been more useful to the world a century or so ago, a major player in the banking industry seems to be rallying behind solar power and other renewable energy sources, telling investors to put there money where it's sunny.

UBS, the world's largest private bank, has officially predicted that large "traditional" power stations will be outmoded in as little as ten years' time, with the focus switching to decentralized methods of obtaining and storing power. This decision reflects the fossil fuel industry's waning appeal in the face of numerous other options, not the least of which is tempered by consumer regard for more environmentally-friendly options.

As reported by theguardian.com, UBS issued a statement urging investors to "join the revolution." The authors explained their reasoning in logical terms when saying, “Power is no longer something that is exclusively produced by huge, centralised units owned by large utilities. By 2025, everybody will be able to produce and store power. And it will be green and cost competitive, ie, not more expensive or even cheaper than buying power from utilities.”

The company, which has assets of over $1.5 trillion, went on to explain the nuances of how electric cars will be driving down the currently-expensive sustainable battery prices, which will then lead to more general acceptance in many areas as batteries become better and more available. This will ultimately, according to them, make fuel-burning cars too expensive. A similar effect would occur with solar technology.

“Battery storage should become financially attractive for family homes when combined with a solar system and an electric vehicle. As a consequence, we expect transformational changes in the utility and auto sectors,” the UBS paper says. “By 2020 investing in a home solar system with a 20-year life span, plus some small-scale home battery technology and an electric car, will pay for itself in six to eight years for the average consumer in Germany, Italy, Spain, and much of the rest of Europe.”

This is not to say that every home now must be maintained as a survivalist would. Decentralized power could mean collection facilities such as hydroelectric turbines or windmills that are shared between small cities or neighborhoods, which could bridge the gap while the technology is rapidly progressing to the point where individuals are easily able to use clean energy to gain and store all the power needed for personal use. Such facilities could also serve as a backup in case of emergency or failure of an individual's power system. And they'll quickly pay for themselves...with no deep-sea drilling or blowing the tops off of mountains required.

While the banksters have often proven themselves untrustworthy, when it comes to power, one would think that world-class financiers would know what they're talking about. These people love power in any form, and if they're putting their cash power behind another form of force, that seems like a sound bet indeed.

Turn it into a nightclub/skate park/music studio or something.