The answer is a simple yes — electricity, like most things in life, can be made cheaper and more efficient by removing barriers to production. A number of companies have recently made large-scale electric vehicles, like the Chevy Bolt, and have been working to make them more energy efficient. Now there’s also talk of a big push toward batteries that could reduce the cost of storage completely.
So how is this possible? In the absence of any government regulations, the answer is quite simple: there are lots of incentives for companies to make EVs. (And some would probably argue that a more effective way to cut costs might have been to offer incentives for the purchase of electric cars first.)
The basic cost of production of electric cars is extremely high — the average cost of a Tesla Model 3 is about $35,000, and the average price of a plug-in hybrid is about $30,000.
But battery tech is a lot more efficient, cheaper, and more plentiful than most people realize. The lithium-ion battery industry could produce a battery for about $100 per gigawatt-hour, while the cost of a battery for a Prius Plug-In is about $45,000. Those are not bad numbers.
But the key thing about this: all those costs can be shaved off by using a number of different technologies — with the best battery technology driving electric cars to the point where they cost even more, because they aren’t able to make those high-volume batteries.
The good news
The good news about free-energy technologies is that they work in a bunch of different cases.
Let’s start with battery storage devices that work both inside and outside the home.
We’ll call them energy storage batteries. They use energy from solar panels to store energy from wind turbines. Then when the wind isn’t blowing, the electricity from the turbines is stored for later use — and there are a ton of different kinds of energy storage batteries already out there.
The thing that makes solar storage so promising is that it’s a lot faster — and cheaper, by the way — than other batteries. It also packs a lot more energy into a very small package: there are hundreds of thousands of solar panels on a solar farm, and you can only store a small part of that energy — about 5% at most. When it rains or the wind doesn’t blow, the excess heat from those panels drops to the ground.
And then there’s the added benefit that
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