Electric vehicle adoption is accelerating. The next generation of EVs will have larger battery capacity and will be capable of charging at much faster rates. Newly developed, high-powered charging infrastructure will deliver up to 350 kilowatts—seven times today’s most common charging capacity (50kW). As charging hubs multiply to support fast-growing adoption, innovative approaches to support the grid become critical.
The early adopter market is becoming the mainstream market. EV sales are up 102% for June 2017, and automakers continue to respond to demand with market commitments. Volvo Car Corp. announced that all of its models launched after 2019 will be either electric or hybrids, Volkswagen AG is targeting 25% EV sales by 2025 and Toyota Motor Corp. will not sell any fossil fuel vehicles after 2050. The energy implications of a booming EV market are staggering. In 2014, the U.S. population drove 251 million cars. If we electrify half of those cars, vehicles alone will demand 688 terawatt-hours of electricity, equal to 18% of total U.S. electricity consumption in 2015.