The article explains how the electric power industry can prepare for its critical role in the new transportation ecosystem driven by rapid adoption of electric vehicles and the emergence of shared and self-driving cars. Utilities and electric companies are interested in building EV charging infrastructure, integrating a growing pool of distributed and renewable energy resources and dealing with high demand during peak periods.
The growth of electric vehicle fleet gives an opportunity to balance the electricity supply and demand on the grid by becoming a powerful load management resource. The authors also cited eMotorWerks’ CEO, Val Miftakhov, who sees electric vehicles as “large batteries on wheels” which allow utilities to “to deploy energy storage, with zero capital cost and zero operating costs”.
Learn more about recent trends in the electric power sector and how utilities plan to increase customer participation in EV charging incentive programs here.