Battery-maker LG Chem and inverter giant SMA have teamed up to offer a storage solution they say is tailored for residential use.

Tesla founder and CEO Elon Musk has long predicted the imminent end of the fossil fuel era. But it took a couple of tweets between him and another billionaire, Australia’s Mike Cannon-Brookes, on Friday to highlight just how close this is.

The Australian domestic gas industry is facing a crisis point, with a shortage of supply projected for two years time, and battery storage and renewable energy ready to provide a cheaper alternative.

If you ever wondered why the sudden and renewed enthusiasm for an emissions intensity scheme from the fossil fuel lobby and their supporters, wonder no more. It will likely save coal and gas generators $30 billion over competing scenarios. But it won’t deliver any savings for consumers.