France's Engie warns of $10 oil - storage battery

In an interview with Bloomberg on December, he said that the decline in solar and battery storage costs, the increase in electric vehicle sales, increasingly "smart" buildings and cheap hydrogen will put pressure on crude oil.
"Even if oil demand continues to climb until 2025, oil prices could fall to $10 if the market expects demand to fall sharply," Lepercq said . ".
Read more: The oil deficit will decrease in 2017
After a decade of acquisitions, Engie, a former French gas monopoly, has become the world's largest non-gas company.
National power producer
It now invests in renewable energy while selling coal.
Thermal power plants and exploration assets.
By 2018, the company plans to spend $1.
Technology including grid 57 billion
Small battery storage, hydrogen output
Power grids that serve small home clusters, as well as smart buildings that connect heating, lighting and IT systems to save energy and reduce costs.
Lepercq said the cost of solar power could fall below $10 per megawatt.
An hour before 2025, the most sunny place in the world turned it into the cheapest source of electricity.
As the cost of battery storage continues to decline, the competition for solar energy will be more intense, which means that electric vehicles will challenge traditional passenger cars.
Lepercq said: "As automakers offer more electric vehicles in the range of more than 500 kilometers, charging stations are gradually deployed, and more cities are banning gasoline and diesel vehicles, this shift will gradually take place.
Data from the International Energy Agency show the number of batteries and plugs
Car sales around the world surged to 1 million.
According to Lepercq, in less than 10 years, hydrogen that can convert solar energy into a transport fuel may be as cheap as LNG.
"Solar energy, battery storage, electrical and hydrogen vehicles, and connected equipment are in the" j "curve.
Hydrogen is a missing part of 100% renewable energy.
Energy systems, but technology already exists.
Enji recently conducted a "very in-depth modeling" of Provence, France "--Alpes-
Blue Coast area.
The results show that by 2030, the region, with 5 million inhabitants, is fully renewable and costs 20% less than the current energy system.
Solar, wind, biogas, large
Large battery storage and hydrogen will be essential elements.
"Quasi-commitment
"There is unlimited and free energy here," Lepercq said . ".