Rapid expansion of the EV market creates both opportunities and risks for the utility companies. On the one hand, the electricity consumption is growing. On the other hand, electric vehicles pose challenges for utilities, such as peak load increases and transformer and substation impacts.
Utilities are looking for ways to shift the charging hours across the full span of off-peak hours and to time vehicle charging for periods of high renewable energy production — mid-day for solar or night-time for wind. In search for flexible grid resources, more and more utilities are considering demand response programs that integrate EV managed charging.
To learn more about the emerging challenges for utilities, click here.