Dec 10, 2014

U.S. utilities face up to $48B revenue loss from solar, efficiency

Energy utilities face losing between $18 billion and $48 billion a year in the U.S and up to €61 billion a year in Europe by 2025 as solar power and energy conservation initiatives grow, according to Accenture.

The Accenture analysis, based on extensive modeling and a survey of global utilities executives, estimates that energy demand could be reduced by more than 15% due to new energy technologies by 2025.

For example, researchers at the Australian Centre for Advanced Photovoltaics at the University of New South Wales announced that they've achieved 40.4% efficiency in converting sunlight to electricity by using commercially available solar cells combined with a mirror and filters that reduce wasted energy.

To read this article in full or to leave a comment, please click here