Solar power - Battery Storage - Electric Vehicles. Three of the hot topics in energy this year but what does the future hold for EVs?
The future of electric vehicles appears to be here as uptake in the UK has increased from 3500 new vehicles registered in 2013 to 182,000 in 2018 so far. Energy suppliers are releasing EV tariffs on an almost daily basis now to keep up with the demand and new charging points are being installed in all four corners of the UK. Additionally, more and more manufacturers are designing electric cars that challenge the larger existing car giants forcing more and more innovation from the industry, but it isn't just the car industry having to innovate.
The appetite for energy tariffs that are linked to a consumers electric vehicle create some interesting new innovations and challenges for the energy industry. How will suppliers manage a consumer who wishes to use their EV as a battery to power their home during high use periods? Is it possible to use an EV as a peer to peer battery to transfer cheaper energy? What impact will EVs have on the grid and future obligations for suppliers to the industry? Are lithium batteries the key or will we see new technology take over in the future?
With the increased uptake it looks like the current charging network will need to work hard to keep up and energy suppliers will need to innovate as the challenge of winning and retaining these customers will become more difficult.