If this method is so simple and so superior in saving energy would it not be the norm for fossil fueled air travel today?

In order to move to your destination, after vertical take-off you would then need to fall down a bit first in order to pick up speed before transitioning to gliding (to get wind over your wings, which provides lift to turn and fly in the right direction).

You might want to ditch those empty batteries also at the right point :)

Nit: There is no vertical landing in what you're describing, so VTOL doesn't seem appropriate.