I was reading an article talking about five reasons why lower oil prices won’t stop solar and wind renewable energy resources in addition to electric or hybrid cars.
Developing technologies are making power plants that produce electricity from sunlight and wind much cheaper in the medium and long run and so the economic return on them will be quite promising. As to storage capacity of electricity from renewable alternative resources, gradual advancement is being achieved. Electricity for example, in Arizona can be stored from solar power and can generate electricity 6 hours after sunset. Rising economies of Asia, Africa, Latin America and growing advanced economies of US and Europe will likely push-up the demand for power and electricity especially from cheap sources like renewable abundant resources such as Solar, Wind, hydro-electric, geothermal and bio-fuels that are getting better and better year after year.
In the long run thriving renewable energy resources are going to make our world environmentally more friendly and economically more prosperous. Scientific research and development are going to bring more peace prosperity and sustainable economic growth.