Completely subverting the traditional energy demand and realizing that the comprehensive cost of PV and Power Storage is lower than that of thermal power. This is the reason why invested heavily by Hillhouse. PV + Power Storage will eventually become the mainstream energy source, not necessarily because it is the cleanest, but it must be because it is the cheapest. The cost of photovoltaic system has been reduced to $0.45/W. In 2007, the system cost reached $9/W. In 13 years, the cost has dropped to only 5% of the original cost. Lithium iron phosphate energy storage system has dropped to $0.23/wh. The system can reach 5000 times for charging and discharging.
In 2025, the cost of the photovoltaic system will reach $0.33/W, which will be amortized to 25 years of depreciation plus financial costs, 1,500 hours/year of power generation hours, and the cost per kilowatt-hour of electricity will be $0.015 per kilowatt-hour. The cost of the energy storage system will be $0.15/WH, and the number of charging and discharging will be 10,000 times. Secondly, according to 15-year depreciation, the cost of kWh storage is $0.015 per kWh, and the financial cost is $0.0197 per kWh; the cost of PV + Power Storage system is $0.035/kw, and the cost is expected to drop to within 0.023per kWh in 2030, sweeping across all fossil energy.
In 2030, PV + Power Storage can occupy 20% of the global power market, which is a high probability event, about 9 trillion kWh. According to the global power generation conditions, the average annual photovoltaic power generation of 1250 hours can be expected, 1GW (1 million kWh) installed capacity is about 1.25 billion kWh. 9 trillion kWh, and the total installed capacity is 7200GW which covers an area of about 70,000 square kilometers. It is predicted that the cost of photovoltaic ground system will be $0.33/W in 2025 ( Solar panel: $0.15/W) and $0.27/W in 2030 ( Solar panel: $0.12/W). By the end of 2020, the total installed capacity of photovoltaics in the world is about 750GW, and 6450GW of photovoltaic storage systems will be added in the next 10 years. The huge space is enough to make people excited.