Largest private bank predicts major shift toward renewables in next 20 years

Could power plants become obsolete in the next two decades? That seems like a far off idea to some, but is exactly what UBS bank, the world’s largest private bank, has suggested in a recent briefing paper it sent to clients and investors. The German bank believes that current centralized energy distribution models are too large and not flexible enough for future energy needs. The bank predicts that in the near future households will generate and store their own energy via solar and other renewable energy source, and power their cars from the same source.

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Largest private bank predicts major shift toward renewables in next 20 years

Could power plants become obsolete in the next two decades? That seems like a far off idea to some, but is exactly what UBS bank, the world’s largest private bank, has suggested in a recent briefing paper it sent to clients and investors. The German bank believes that current centralized energy distribution models are too large and not flexible enough for future energy needs. The bank predicts that in the near future households will generate and store their own energy via solar and other renewable energy source, and power their cars from the same source.

Solution News Source

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