EV charging business for utilities
The rise of EVs poses both opportunity as well as challenges for utilities and energy companies. One the one hand, the grid should not overload. If too many EV drivers plug in their EV just as the peak is spiking, the demand will even intensify the negative impact on the grid.
On the other hand, utilities can grasp the opportunities that arise; charging an EV requires electricity, thus influencing energy bills of EV drivers. One thing is clear – EV adoption poses a new interesting era for utilities; they can lead the way in accelerating EV adoption and proper integration of EVs into the grid.
Opportunity – surge in energy demand
EVs represent significant economic opportunities. EVs pose a significant new way of electricity use, changing the nature of utility business. Global energy consumption will double by 2050. Are you ready to benefit from the new demand? Utilities can make use of energy supply cost reductions by making use of lower-cost resources and limiting highest cost energy.
Utilities can also play a vital role in contributing to a healthy EV charging infrastructure, modulating charging rates and shifting charging events in order to provide grid services. Moreover, avoiding expensive grid upgrades is another advantage for utilities to use smart charging. No significant transformer upgrades are needed.
Hazard – prevent grid overload
Between 500 million to 1 billion EV’s expected on the road in 2050. All these EVs need to charge. Is your infrastructure prepared for the surge in demand? Time of Use (ToU) tariffs can be used as a tool to influence EV drivers to shift their charging behaviour to off-peak times of the day. This benefits EV drivers as they can reduce their energy bill and at the same time, it ensures EV charging when it is least disruptive to the grid, preventing an overload.
This also presents new challenges, if too many EV drivers shift too off-peak charging. These concerns however can also be mitigated by smart charging by taking into account factors such as charge status, charge rate and other factors, distributing charging across a bigger time frame.
Our solution for utilities: EV charging software
Use our charge point software to build your own EV charging infrastructure. The software is easy to use and has all necessary features to help you accelerate in the EV business, such as roaming, billing and smart charging. We offer both managed and fully outsourced packages of our EV charging station software.