Tesla CTO JB Straubel Says Solar Will Cost Less Than Fossil Fuels Within a Decade

Charged Electric Vehicles Magazine reported that Tesla Motors (NASDAQ:TSLA) CTO JB Straubel has said that solar power will be cheaper than fossil fuels within 10 years. At the recent intersolar North America conference, the CTO said that once energy storage costs get cheap enough, it won’t make economic sense to use fossil fuels anymore.
Charged EVs quoted Straubel as saying:

I think we’re at the beginning of a new cost decline curve. There are a lot of similarities to what happened with photovoltaics. Almost no one would have predicted that photovoltaic prices would have dropped as fast as they have, and storage is right at the cliff, heading down that price curve.
You suddenly get to have energy that’s 100% firm and buffered, from photovoltaics, that’s cheaper than fossil energy. And we’re within grasping distance of that goal. Once we get to that, there’s no going back. That’s the amazing tipping point that’s going to happen – I’m quite certain – within the next 10 years.

As quoted in the publication.