In our previous article, EVs and EV Charging: The Next Wave of the New Energy Economy is Here, we explored the solar installers’ unique position to take advantage of the impending boom of EV charging over the next decade. We walked through charger types that are specifically aligned with certain industry and market needs and discussed opportunities for microgrid development in tandem with increased electricity demand. Today, we are going a step further to delve into the unique potential for business regarding demand response (DR) and load management technologies. This can provide you a better understanding of the industry and help you kick-start your EV charging sales today.
When it comes to the mass deployment of solar technology and EVs, a key issue to consider is that a significant load fluctuation has a great ability to cause grid imbalance. Given that EV charging is expected to become one of the highest sources of electricity consumption over the next 10 years, it is crucial to proactively prepare to manage the influx of EV demand needs. Many utilities already have DR programs in place to avoid blackouts in which they financially incentivize energy use reduction during peak hours. Grid operators must be able to understand patterns surrounding the time of charging and volume to optimize DR strategies and eventually operate on a ‘smart grid’.
(This chart demonstrates how PG&E prices and distributes electricity during peak hours.)
The Vehicle Grid Integration Council’s recent report on EVs and DR lays out the importance of layered load management strategies as informed by EV charging use patterns. Some of these strategies rely on practices such as off-peak pricing, spare capacity storage, distributed intelligence, and automated load management (ALM) to create adaptive solutions. Developing vehicle-to-grid technology offers a solution in which an EV can store and discharge electricity if needed, effectively serving as a backup battery when electricity demand is high. Read more about Residential Intelligent Energy Management solutions here.
Many automobile companies have already teamed up with utilities to create reliable electricity and demand DR plans, such as BMW’s partnership with PG&E. Since PV-generated energy cannot be controlled in the same way that fossil fuel generators can, car companies must be able to communicate through fleet tracking data to determine the most efficient hours for charging their EVs. These partnerships serve as incredibly promising management resources as we approach the coming years of EV development. However as state and federal policy makers continue to set renewable targets, EV incentives push the need for new infrastructure that can support increased electrification demand. Governments will have a key role to play in incentivizing private companies to invest in proper infrastructure to ensure that consumers feel comfortable purchasing EVs and chargers. With the increased demand to electrify, installers are provided with a great opportunity to add on to their solar projects with EV chargers.
Wallbox is one leader in the EV charging industry that is thinking many steps ahead. Providing a variety of solutions for public, commercial charging in addition to their residential charging product options. Leaning into the fact that the workplace is the second most popular location to charge an EV, Wallbox deploys their Supernova and Hypernova chargers which can allow for charging in up to 15 min. Along with opportunities to electrify rideshare, delivery, rental car, city bus, and school bus needs, Wallbox serves as a prime example of an organized, all-in-one load management option to help residents, businesses, or utilities take advantage of EV incentives.
It is no secret that mass electrification of transportation across the country is on it’s way, and as we’ve said before, solar installers are in an incredibly opportune position to help lead the wave. Bloomberg’s 2021 Electric Vehicle Outlook report outlines the realistic implications of large-scale EV adoption and reports that fully electrifying the entire transportation industry would only add to about 25% of all electricity demand by 2050. In tandem with increasing nationwide efficiency measures and renewable standards, this increase in demand could in fact help to prevent overall electricity demand from crashing.
Interested in learning more about your position to take advantage of the EV charging momentum? Check out this Wallbox blog post to find out more about your local rebates and tax credits and reach out to your local Greentech Renewables representative to get started with an EV charger product quote today.