Can the power grid handle the growing uptake in Electric Vehicle (EV) adoption? This is a common question about EVs with enormous real-world implications. On one hand, increased adoption of EVs is integral to meeting a country’s zero-emissions targets, but on the other, it further strains the grid and risks a blackout due to surging EV battery charging needs.
If every consumer vehicle on the planet were electric last year, the total energy consumption worldwide would have been 13% higher than the previous year. As Electric Vehicles (EVs) drastically increase energy drawn from the electric grid and contradict sustainability efforts, the importance of Vehicle-to-Grid (V2G) charging solutions cannot be understated. Because it's still a relatively new technology, this resource will explain how V2G works.
Forecasting where exactly the Electric Vehicle (EV) supply chain is going is a nearly impossible endeavor, with a wide range of unpredictable factors to consider, such as fuel prices, attitudes toward green energy, government policies, availability of charging stations, vehicle range, and vehicle affordability. One thing that can be concluded is that Original Equipment Manufacturers (OEMs) are going to focus on providing flexibility to consumers in order to gain market share. But the rapid development of so many new car models will place a tremendous amount of pressure on ecosystem partners that can’t meet demand in such a short time span, resulting in inevitable issues with the EV supply chain.