The continuous and rapidly declining cost of solar power, combined with simultaneous declines in the cost of lithium batteries (“LB”) shown in this report has suddenly put the entire global energy generation industry (28 Terrawatts of power in 2020) up for grabs. This is equivalent to $71 trillion of solar market potential, up from essentially zero in 2010. See Appendix AD for more details on this outlook.
Tesla’s business is growing rapidly as people and companies globally push to use more solar power and less FF’s. Solar power and electric vehicles (“EV”) extend the lives of important, finite, FF reserves. Since solar power is effectively an infinite source of clean energy, its the only real choice that we have to avoid running out of energy globally now that our civilization is so large. Solar power is also the lowest cost energy source.