|According to Tony Seba (quoted in How Solar Power Could Slay the Fossil Fuel Empire by 2030) the only big obstacle to the dominance of Electric Vehicles (EVs) will be the battery:
Seba's forecasts are being taken seriously by some of the world's most powerful finance, energy, and technology institutions.
Last November, Seba was a keynote speaker at JP Morgan's Annual Global Technology, Media, and Telecom Conference in Asia, held in Hong Kong, where he delivered a stunning presentation on what he calls the "clean disruption."
Seba's JP Morgan talk focused on the inevitable disruption in the internal combustion engine. By his forecast, between 2017 and 2018, a mass migration from gasoline or diesel cars will begin, rapidly picking up steam and culminating in a market entirely dominated by electric vehicles (EV) by 2030.
Not only will our cars be electric, Seba predicts, but rapid developments in self-driving technologies will mean that future EVs will also be autonomous. The game-change is happening because of revolutionary cost-reductions in information technology, and because EVs are 90 percent cheaper to fuel and maintain than gasoline cars.
The main obstacle to the mass-market availability of EVs is the battery cost, which is around $500 per kilowatt hour (kWh). But this is pitched to fall dramatically in the next decade. By 2017, it could reach $350 kWh—which is the battery price-point where an electric car becomes cost-competitive with its gasoline equivalent.
Seba estimates that by 2020, battery costs will fall to $200 kWh, and by 2024-25 to $100 kWh. At this point, the efficiency of a gasoline car would be irrelevant, as EVs would simply be far cheaper. By 2030, he predicts, "gasoline cars will be the 21st century equivalent of horse carriages."Yes, we are still on the tip of the 20th century, but it's fading fast. Within a short period of time, we will see the announcement of huge breakthroughs in batteries and in solar power. 2015 may go down in history as the real turn of the century as far as energy is concerned.