In the not-so-distant past, the idea of electric vehicles (EVs) seemed like a futuristic fantasy, reserved for sci-fi movies. Today electric cars make up 13% of global car sales, and this is expected to keep rising in the next few years. Our world has big concerns about climate change, air pollution and energy security, so do EVs create a solution to our problem? What does the future hold and how will they impact your life? Keep reading to find the answers to all of your questions.
The rise of electric vehicles:
EVs have been around since the 1800s, but what makes today's models so much better? Recent advancements in technology have propelled EVs into the spotlight. Advancements in battery technology have played a crucial role in making EVs more practical and appealing to consumers. Lithium-ion batteries, the most common type used in EVs, have seen improvements in energy storage capacity, allowing for longer driving ranges on a single charge. Additionally, research into new battery chemistries, such as solid-state batteries, holds promise for further enhancing the performance and affordability of electric vehicles.
Many drivers are concerned about ‘range anxiety’- that an EV won’t make it to its destination without running out of charge. But thanks to new technologies, fast-charging networks are becoming a reality. These chargers are designed to deliver 300kW to your vehicle, charging it anywhere from 25 to 80 times faster than the older charger models. These charging stations are also getting smarter, incorporating solar and other renewable energies into their networks, so you can charge your car with green energy.
The costs of electric vehicles:
EVs were often considered only for the rich, however, we are beginning to see them more often on the road, as Ubers, or our Amazon delivery vans. So are costs coming down? The reason why EVs are so expensive is because of their battery, resulting in nearly a third of their price. However, that is steadily decreasing, as battery technology improves. Car industries are even aiming to use 50% recycled metals for their batteries by 2040, which will bring costs down even further.
The future is electric:
Pollution, climate change, and the cost of fuel is an ever-present problem in today’s world, and on the minds of governments around the world. That’s why it's a big incentive for them to promote buying electric vehicles. Around the world they are introducing tax credits, rebates, or subsidies to help with the cost. Some even want to help pay for charging stations at home or in public places, encouraging consumers to make environmentally friendly choices while also driving the growth of the EV market. It’s no surprise that electric vehicle sales are forecasted to make up 50% of global new car sales by 2035. Electric vehicles are not just a trend; they are the future!
Other electric vehicles:
EVs are changing transportation everywhere, from heavy-duty trucks and buses to motorcycles or three-wheelers. Governments worldwide are particularly interested in electrifying heavy-duty trucks, as they make up 70% of CO2 emissions from fuel-based vehicles. Governments are targeting a complete transition to 100% zero-emission truck sales by 2040, with the goal of reducing pollution and combating climate change. What about closer to home? Electric buses, used for public transportation in your local town, are gaining popularity because of their lower emissions and reduced noise pollution.
Looking to the more distant future, the rise of self-driving electric vehicles could become more common. With this rise, we may see a shift away from traditional car ownership, increasing the need for communal usage. This could also mean fewer parking lots and garages in cities, replaced by transportation hubs. However, it doesn't come without challenges. The transition to electric poses financial problems for governments who are reliant on gas taxes and substantial investments in roads will have to be made to make them safer for electric vehicles. So, while electric cars could make our cities cleaner and our roads safer, they might also change how we live in big ways.
Powering the future with solar:
Solar power holds significant promises in powering the future of EVs. Solar energy is abundant, renewable and emits no greenhouse gasses, making it an environmentally friendly alternative to fossil fuels. Solar-powered charging stations are beginning to be used to charge EV batteries. These charging stations can be installed in homes, businesses, parking lots and highways, providing EV owners with convenient access to clean energy for their vehicles. And what other benefits do they bring?
Energy Independence: By generating electricity from the sun, solar-powered charging stations allow us to be less dependent on fossil fuels and promote energy independence.
Cost Savings: Once installed, solar panels have minimal operating costs and can provide free or low-cost electricity for charging electric vehicles, helping drivers save money on fuel expenses.
Grid Resilience: Solar-powered charging stations can help enhance the resilience of the electric grid by decentralising energy generation and reducing strain during peak demand periods.
Promotion of Renewable Energy: By integrating solar power with electric vehicles, there is an opportunity to promote the adoption of renewable energy and accelerate the transition to a sustainable energy future.
EVs have moved quickly from a futuristic notion to a significant portion of the global vehicle market. This transformation is fueled by advancements in battery technology, charging-stations and growing environmental awareness. As well as this, costs are dropping thanks to government incentives and the use of recycled materials, making EVs more accessible for you.
Solar power is offering energy independence, cost savings and providing a greener option for your vehicle.
If you’re interested in finding out more about getting EV chargers installed at your home or business contact our Solutions team for a Consultation on 03 9071 2468 or hello@energywired.com.au.