Screw caps were created in 1950s and until the 2000s they were used for "value wines" in New Zealand. In the 1970s Australian Consolidated Industries bought the original cap company and renamed it Stelvin. Stelvin is what we use today at Old Town Cellars. Stelvin started an initiative in 2001 to promote screw caps, and by 2007 70% of Australia's wines were sealed with screw caps.
There are many pros to using screw caps and few cons, which, is why at Old Town Cellars we use screw caps. They are cost effective, have reliable quality, are unlimited, and do not give the wine "cork taint" or TCA. They are also tested to age wine as well as corks; however, slightly slower (about two years slower since they allow less oxygen into the bottle which is needed for aging).
The only real miss with screw caps is the loss of the romantic appeal when you "pop a cork".
NPR: Allison Aubrey
Vinepair: Keith Beavers
WineFolly: Madeline Puckette