Conceptually, this is not a difficult solution, having worked numerous times in history. It is a matter of aligning motivations.
Two things have to happen:
1. The market has to be big enough to motivate manufacturers to make big investments in plant and equipment. The costs have to come down considerably such that renewable energy (solar in particular, and the appropriate storage media) is cheaper than any other method of energy production.
2. Barriers to entry have to be removed. Right now a substantial solar installation can take more than 7 years before production begins. No one wants that hassle, that risk and that delay before profitability. The market must be such that someone can buy equipment, install it, start generating energy and receive a check within weeks or even days. The market must be accessible and trackable from a single solar panel to a square mile of panels, open to literally everyone.
We have the methodology and are working on the technology to allow this accessibility.
A Micro-networked Energy Grid
The industry can evolve into a micro-networked grid that will operate in a similar manner to the internet. Routing decisions will be made based on market forces and bidding by consumers of energy. Further details are confidential at this time.
An Energy Currency
The details of this are confidential at this time, but to realize a genuine energy market, one must have the ability to exchange value. Whether exchangeable to other currencies or just used to keep track of energy exchange in a local market, the wealth being generated must be measured.
Solving Climate Change
Imagine an energy market that can be entered at will and at any level, and the cost of the equipment is low enough to guarantee a profit greater than the S&P market average. As individuals and investors rush to enter the market, the price of energy must fall, well below that of fossil fuels. The magic of the market finally produces electric vehicle batteries that can be recharged within minutes (spurred by a potential $50B/year market). Gas powered vehicles become a novelty. The (likely) 20 year transition does not have to be mandated or legislated, the market will take care of it.
Imagine installing a basic solar power infrastructure in a village that has none, including the ability for each individual to buy and sell at will and a battery for storage (a “bank”). They learn the value of electricity, in pumping water, running television sets, household use, etc. An individual saves a few dollars, buys another panel to add to the village’s power resources. The system keeps track and he earns a profit on that panel.
We have just created a number of fantastic opportunities for the village. Where most in the village might not have access to a bank or be able to save money, by buying a single solar panel, they are earning an effective interest, thus building wealth. The village has the use of the power (at whatever exchange rates the village decides within its own system) and builds a better lifestyle. The village may be able to sell to another village or to the local power company for hard currency.
Bill Gates has lamented that a major factor in poverty is a lack of energy. This method allows a village to build and add on to a networked energy grid that constantly produces and can be augmented in tiny increments as the village is able to invest in its growth.
More to come