In August 2014, UBS sent a briefing to clients and investors saying that it expects a paradigm shift away from large-scale conventional power plants and towards generation of clean power by homes and businesses. “By 2020 investing in a home solar system with a 20-year life span, plus some small-scale home battery technology and an electric car, will pay for itself in six to eight years for the average consumer in Germany, Italy, Spain, and much of the rest of Europe […] As a consequence we expect transformational changes in the utility and auto sectors.
