Electric vehicles (“EVs”) are poised to play a significant role in transportation as several countries across the world pledge to cut their carbon emissions and mitigate the effects of climate change. Unlike internal combustion engine (“ICE”) cars, EVs are powered by a rechargeable battery coupled with electric motors and produce zero emissions at the tailpipe. However, as automakers ramp up the development of electric cars, there have been claims about electric grids being unable to handle an influx of EVs. Electric car batteries can store significant amounts of energy, and some are worried that as more people switch to EVs, the extra energy needed to keep them running may place undue stress on the electric grid.
While that may seem like a reasonable fear, it can be easily addressed by practicing better grid management. A lot of the opponents to electrification seemed to be assuming that all the electric cars in the country would be charging at the same time, which can definitely overload the electric grid. But as long as the demand for energy is managed properly, the grid would definitely be able to support an influx of electric cars.
Let’s look at how that would work in the United States. In 2020, the U.S. grid had 1,117.5TW of electric capacity and 27.7GW of solar energy, says the U.S. Energy Information Administration, and there were 286.9 million registered cars in the country.
Assuming that all these vehicles are EVs capable of charging at 7kW, the cars would require 2,008.3TW of electricity, nearly two times the grid’s capacity. If the EVs charged at 50kW instead, they would require 14,345TW of energy to keep them charged. These averages assume that every EV in the country will be hooked up to the grid 24/7, which isn’t the case, In reality, EV owners will probably have to charge their EVs one or two times a week, depending on their usage. The average American drives 13,500 miles per year, the U.S. Department of Transport’s Federal Highway Administration says.
If the vehicle driven is an EV, this would translate to approximately 3,857kWh per year, which when multiplied with the total number of cars in the country would result in 1,106.6TWh. With the U.S. grid generating a whopping 4,007TWh of electricity in 2020, charging a countrywide EV fleet is indeed feasible.
Of course, the government will have to invest considerably in public charging infrastructure to make charging more accessible for people who cannot rely on home chargers. By incentivizing EV charging during off-peak grid hours, authorities can ensure EV charging does not put undue strain on the grid.
Electric vehicle makers such as Mullen Automotive Inc. (NASDAQ: MULN) are also constantly looking to improve battery technology, so a time may come when a single charge may last longer than is currently possible, thereby further reducing the strain on power grids.
NOTE TO INVESTORS: The latest news and updates relating to Mullen Automotive Inc. (NASDAQ: MULN) are available in the company’s newsroom at https://ibn.fm/MULN
About Green Car Stocks
Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.
To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only)
For more information, please visit https://www.GreenCarStocks.com
Green Car Stocks is part of the InvestorBrandNetwork.