The Federal Government, as well as a number of companies and nonprofits including Prologis, First Student, Hertz, Amazon, Google, Rewiring America, and others, are announcing new commitments to expand EV fleets, increase consumer education, and grow the availability of EV charging.
RECENT POSTS
Friday, March 31, 2023
Tuesday, March 28, 2023
Public transportation and shared mobility will drive the EV revolution in emerging markets
Emerging market investors may need to look away from single-user EVs and business-to-customer models to find opportunities to invest in EV infrastructure:
Opportunity one: buses
Globally, we can expect the electric bus market to grow from less than 700,000 vehicles in 2021 to over 3 million by 2030. That would still only represent 11% of all buses in circulation, according to the IEA.
Fleets of electric buses also present opportunities for private capital investments. Bus operators usually benefit from long-term concession contracts with a municipality or a public body, providing them visibility on routes and bus utilisations. This creates an opportunity for a business-to-business (B2B) models. Under a B2B model, bus operators can offer long-term “off-take” (energy use) contracts for the charging stations to their energy service providers. This allows for the stable cashflow outlook necessary to raise debt financing.
Opportunity two: investing in the grid
The growth of the e-mobility sector will require significant investments to upgrade electricity grids, and increase renewable energy generation. Many countries in emerging markets are already engaged in ways to cater for growing electricity demand from a growing and more affluent population and favour renewable energy.
Grid services from EV charging remain marginal at this stage, but the technology required – bi-directional charging - is already in place in most of the newest electric vehicle models. Formalising how to monetise ancillary services provided by EV batteries connected to charging points could be key to creating stable cashflows. This may improve the revenue models of EVs, and therefore their bankability.
Beyond grid stabilisation benefits, smart charging of EVs, using differentiated electricity tariffs in off-peak hours, may also mitigate the pressure on electricity demand. That’s because vehicles can be charged during the day, when demand is lower and renewables generation is available.
Opportunity one: buses
Globally, we can expect the electric bus market to grow from less than 700,000 vehicles in 2021 to over 3 million by 2030. That would still only represent 11% of all buses in circulation, according to the IEA.
Fleets of electric buses also present opportunities for private capital investments. Bus operators usually benefit from long-term concession contracts with a municipality or a public body, providing them visibility on routes and bus utilisations. This creates an opportunity for a business-to-business (B2B) models. Under a B2B model, bus operators can offer long-term “off-take” (energy use) contracts for the charging stations to their energy service providers. This allows for the stable cashflow outlook necessary to raise debt financing.
Opportunity two: investing in the grid
The growth of the e-mobility sector will require significant investments to upgrade electricity grids, and increase renewable energy generation. Many countries in emerging markets are already engaged in ways to cater for growing electricity demand from a growing and more affluent population and favour renewable energy.
Grid services from EV charging remain marginal at this stage, but the technology required – bi-directional charging - is already in place in most of the newest electric vehicle models. Formalising how to monetise ancillary services provided by EV batteries connected to charging points could be key to creating stable cashflows. This may improve the revenue models of EVs, and therefore their bankability.
Beyond grid stabilisation benefits, smart charging of EVs, using differentiated electricity tariffs in off-peak hours, may also mitigate the pressure on electricity demand. That’s because vehicles can be charged during the day, when demand is lower and renewables generation is available.
The Trans-American Race to Build Chargers for Electric Trucks
Private companies have pledged more than $16 billion to build charging infrastructure for fleets and private cars in North America in the next decade or so, according to Atlas Public Policy, a think tank.
Truck stop operator Pilot Company has announced plans with Volvo and General Motors to install thousands of truck-charging stations across the US, and its competitor, TravelCenters of America, says it will install 1,000 by 2028. A group of nine utilities in three western US states have plotted out a path of 27 charging stations for medium- and heavy-duty vehicles along Interstate 5; a first site, a kind of test bed, opened in Portland in 2021.
Truck stop operator Pilot Company has announced plans with Volvo and General Motors to install thousands of truck-charging stations across the US, and its competitor, TravelCenters of America, says it will install 1,000 by 2028. A group of nine utilities in three western US states have plotted out a path of 27 charging stations for medium- and heavy-duty vehicles along Interstate 5; a first site, a kind of test bed, opened in Portland in 2021.
US, Japan Strike Deal on Supply of Minerals for EV Batteries
The US agreed to boost cooperation with Japan on critical mineral supply chains and to expand access to tax breaks as President Joe Biden aims to counter China’s dominance of the electric vehicle battery sector.
Following the pact, EVs that use materials that have been collected or processed in Japan will be eligible for incentives under the US Inflation Reduction Act, Japanese trade minister Yasutoshi Nishimura said Tuesday in Tokyo.
Following the pact, EVs that use materials that have been collected or processed in Japan will be eligible for incentives under the US Inflation Reduction Act, Japanese trade minister Yasutoshi Nishimura said Tuesday in Tokyo.
Monday, March 27, 2023
U.S. eyeing ways to include Europe in electric car tax breaks
The Biden administration may allow European companies to share in billions of dollars in U.S. tax incentives for electric vehicles if the two sides can reach a trade deal in the next few weeks, a senior administration official said Friday — a move that could help ease a major source of transatlantic friction.
No such concessions for Europe will be included in a long-awaited proposed guidance that the Treasury Department will release for the incentives next week, the official told POLITICO after being granted anonymity to discuss sensitive deliberations. But ongoing talks between the U.S. and EU could produce an agreement allowing vehicles that include European minerals to qualify for the full extent of the tax breaks, the person said.
No such concessions for Europe will be included in a long-awaited proposed guidance that the Treasury Department will release for the incentives next week, the official told POLITICO after being granted anonymity to discuss sensitive deliberations. But ongoing talks between the U.S. and EU could produce an agreement allowing vehicles that include European minerals to qualify for the full extent of the tax breaks, the person said.
LG could offer EV charging infrastructure
LG Electronics is apparently preparing its entry into the EV charging infrastructure business. According to a Korean media report, LG Group’s strategy is to have major subsidiaries such as LG Electronics provide all services from charger manufacturing to charging solutions and platforms.
Last year, LG Electronics had already acquired AppleMango, a South Korean manufacturer for EV chargers. According to the new report, LG’s charging infrastructure division has started operations and could unveil the “LG Electric Vehicle Charger” in April at the earliest. However, it is not yet known whether this will be an AC or DC charger – AppleMango had both on offer.
Production has also already been prepared in the background: According to reports citing industry insiders, LG Electronics recently completed preparations for mass production of EV chargers at the LG Digital Park in Pyeongtaek, Gyeonggi Province. The smartphone production line previously used by the mobile division has been converted for chargers.
Last year, LG Electronics had already acquired AppleMango, a South Korean manufacturer for EV chargers. According to the new report, LG’s charging infrastructure division has started operations and could unveil the “LG Electric Vehicle Charger” in April at the earliest. However, it is not yet known whether this will be an AC or DC charger – AppleMango had both on offer.
Production has also already been prepared in the background: According to reports citing industry insiders, LG Electronics recently completed preparations for mass production of EV chargers at the LG Digital Park in Pyeongtaek, Gyeonggi Province. The smartphone production line previously used by the mobile division has been converted for chargers.
Ford plans to build 500,000 EVs annually at its $5.6 billion Tennessee campus
Ford Motor’s new plant being constructed outside Memphis, Tennessee, will be capable of building 500,000 electric vehicles annually at full production, the company said Friday.
Ford and South Korea-based battery supplier SK On are investing $5.6 billion in the BlueOval City campus, including a large battery cell plant. Production at the plants is on track to begin in 2025, Ford said Friday.
Ford and South Korea-based battery supplier SK On are investing $5.6 billion in the BlueOval City campus, including a large battery cell plant. Production at the plants is on track to begin in 2025, Ford said Friday.
Wednesday, March 22, 2023
Electric shuttle service partnership provides last-mile travel options in Dallas
Dallas Area Rapid Transit has partnered with Toyota and Circuit to provide free ride-share shuttles in West Dallas, linking the West End light rail station with retail, healthcare, local bus stops and other services in a one-year pilot program, DART announced last week. Circuit uses electric low-speed vehicles to provide on-demand transportation in more than 30 communities in eight states, it reports.
The West Dallas service began in 2020 as a collaboration between Toyota and Circuit, with DART joining the partnership this year, according to a DART spokesperson.
The West Dallas service began in 2020 as a collaboration between Toyota and Circuit, with DART joining the partnership this year, according to a DART spokesperson.
California will get EPA approval to speed transition to electric trucks
The Biden administration will approve new California rules to cut tailpipe pollution and phase out sales of diesel-burning trucks, according to three people briefed on the plans, a move that could jump-start the nation’s transition to electric-powered trucks and help communities harmed by diesel pollution.
The Environmental Protection Agency intends to grant California “waivers” to enforce environmental rules that are significantly tougher than federal requirements and that state regulators have already approved, said these individuals, who spoke on the condition of anonymity because the announcement was not yet public.
The Environmental Protection Agency intends to grant California “waivers” to enforce environmental rules that are significantly tougher than federal requirements and that state regulators have already approved, said these individuals, who spoke on the condition of anonymity because the announcement was not yet public.
World Economic Forum: How cities worldwide can encourage EV adoption
Governments and cities can and must do more to encourage more EV adoption by:
MIT Study: Strategic EV Charging Placement Might Eliminate The Need For New Power Plants
Thorough planning of EV charging station placement, specifically with a greater emphasis on workplace charging, could cut the need for more power plants, according to a new MIT study.
Published in the journal Cell Reports Physical Science, the study uses data from New York City and Dallas to counter the narrative that an influx of electric cars will create massively higher electricity demand and necessitate more power plants. Researchers argue that smarter planning will both cut the need for additional power plants and utilize excess solar capacity.
Published in the journal Cell Reports Physical Science, the study uses data from New York City and Dallas to counter the narrative that an influx of electric cars will create massively higher electricity demand and necessitate more power plants. Researchers argue that smarter planning will both cut the need for additional power plants and utilize excess solar capacity.
Reuters Report: One-third of Americans would consider EV purchase
Just over one-third of Americans would consider buying an electric vehicle for their next model, a new Reuters/Ipsos poll found.
The seven-day poll completed on Monday found 34% of all respondents would consider an EV, while 31% said no. Among Democrats 50% said they would consider an EV, while 26% of Republicans and 27% of independents said they would consider.
The Reuters/Ipsos poll, conducted online, surveyed 4,410 people nationwide and had a credibility interval of about 2 to 3 percentage points in either direction.
More>>
The seven-day poll completed on Monday found 34% of all respondents would consider an EV, while 31% said no. Among Democrats 50% said they would consider an EV, while 26% of Republicans and 27% of independents said they would consider.
The Reuters/Ipsos poll, conducted online, surveyed 4,410 people nationwide and had a credibility interval of about 2 to 3 percentage points in either direction.
More>>
Monday, March 20, 2023
PNA CEO to speak at SAFE Summit re EV Charging Network, March 28–29 in Washington, DC
The first SAFE Summit, presented by the Electrification Coalition and SAFE, is less than three weeks away! Speakers at this two-day event include:
- The Honorable Michèle Flournoy, Former Under Secretary of Defense for Policy, U.S. Department of Defense
- Ashwani Gupta, Director and COO, Nissan Motor Company
- Megan Myungwon Lee, Chairwoman and CEO, Panasonic North America
- The Honorable Scott Moe, Premier of Saskatchewan, Canada
- The Honorable John Podesta, Senior Advisor to the President for Clean Energy Innovation and Implementation, The White House
- Frederick W. Smith, Founder and Executive Chairman, FedEx Corporation
- The Honorable David van Weel, Assistant Secretary General, NATO
- Cathy Zoi, CEO, EVgo
Utilities, carmakers await critical IRS guidance on Inflation Reduction Act
A domestic EV industry and a national charging network buildout await federal agency interpretations of complex IRA tax credit and supply chain requirements.
$120B invested in EV manufacturing - 40% of that since IRA & 73% of that since IIJA
That's the amount of EV-related manufacturing investments — vehicles, batteries, and components — in the U.S. announced over the past eight years, per new analysis.
Why it matters: About 40% has surfaced since passage of the big climate law, signaling how the major tax incentives are speeding investment, per the Environmental Defense Fund and the firm WSP.
Why it matters: About 40% has surfaced since passage of the big climate law, signaling how the major tax incentives are speeding investment, per the Environmental Defense Fund and the firm WSP.
Over the last 8 years, manufacturers have announced over $120 billion
in concrete investment in U.S. EV and EV battery manufacturing facilities. Federal
policies have dramatically expanded and accelerated these investments: 42 percent of
announced EV investments have occurred in the last 6 months since passage of the
IRA and 73 percent have occurred in the last 15 months since passage of the Bipartisan
Infrastructure Law.
Falling Lithium Prices Are Making Electric Cars More Affordable
Lithium, the common ingredient in almost all electric-car batteries, has become so precious that it is often called white gold. But something surprising has happened recently: The metal’s price has fallen, helping to make electric vehicles more affordable.
Since January, the price of lithium has dropped nearly 20 percent, according to Benchmark Minerals, even as sales of electric vehicles have soared. Cobalt, another important battery material, has fallen by more than half. Copper, essential to electric motors and batteries, has slipped about 18 percent, even though U.S. mines and copper-rich countries like Peru are struggling to increase production.
The sharp moves have confounded many analysts who predicted that prices would stay high, or even climb, slowing the transition to cleaner forms of transportation, an essential component of efforts to limit climate change.
Since January, the price of lithium has dropped nearly 20 percent, according to Benchmark Minerals, even as sales of electric vehicles have soared. Cobalt, another important battery material, has fallen by more than half. Copper, essential to electric motors and batteries, has slipped about 18 percent, even though U.S. mines and copper-rich countries like Peru are struggling to increase production.
The sharp moves have confounded many analysts who predicted that prices would stay high, or even climb, slowing the transition to cleaner forms of transportation, an essential component of efforts to limit climate change.
7-Eleven starts its own EV charging network, 7Charge
7-Eleven announced the launch of 7Charge, a new EV fast-charging network and app that is promised to deliver a convenient and reliable fast charging experience at select 7-Eleven stores in the United States and, in the near future, also in Canada.
The 7Charge builds on the initiative started in June 2021, when the company set a goal to install DC fast chargers at 250 selected stores by the end of 2022.
Now, 7-Eleven says that its intention is to build one of the largest EV fast-charging networks of any retailer in North America. There is no exact number of how many chargers we should expect, but let's note that the company operates, franchises and/or licenses more than 13,000 stores in the US and Canada.
The 7Charge builds on the initiative started in June 2021, when the company set a goal to install DC fast chargers at 250 selected stores by the end of 2022.
Now, 7-Eleven says that its intention is to build one of the largest EV fast-charging networks of any retailer in North America. There is no exact number of how many chargers we should expect, but let's note that the company operates, franchises and/or licenses more than 13,000 stores in the US and Canada.
Biden Administration Opens Applications for First Round of $2.5 Billion Program to Build EV Charging
The U.S. Department of Transportation’s new Charging and Fueling Infrastructure (CFI) Discretionary Grant Program, established by the Bipartisan Infrastructure Law, will provide $2.5 billion over five years to a wide range of applicants, including cities, counties, local governments, and Tribes. This round of funding makes up to $700 million from fiscal years 2022 and 2023 funding available to strategically deploy EV charging and other alternative vehicle-fueling infrastructure projects in publicly accessible locations in urban and rural communities, as well as along designated Alternative Fuel Corridors (AFCs).
“By helping bring EV charging to communities across the country, this Administration is modernizing our infrastructure and creating good jobs in the process,” said U.S. Transportation Secretary Pete Buttigieg. “With today’s announcement, we are taking another big step forward in creating an EV future that is convenient, affordable, reliable, and accessible to all Americans.”
“By helping bring EV charging to communities across the country, this Administration is modernizing our infrastructure and creating good jobs in the process,” said U.S. Transportation Secretary Pete Buttigieg. “With today’s announcement, we are taking another big step forward in creating an EV future that is convenient, affordable, reliable, and accessible to all Americans.”
John Deere to expand lineup of electric, hybrid vehicles
John Deere plans to ramp up production of electric construction vehicles with the aim of offering more than 20 electric and hybrid-electric vehicles by 2026. "We see the clear and growing need for battery and charging solutions for the off-highway industry," said Jennifer Preston, director of John Deere Electric Powertrain.
EV battery recycling innovations can rev up market
The burgeoning electric-vehicle market has done well enough that more than 100 million batteries will reach the end of their life in the next 10 years, putting battery recycling opportunities at the forefront of the desire to scale, say McKinsey analysts. The analysts have conducted an examinations into the effect of regulations, technology and other factors behind battery recycling, as well as what innovation and profitability to expect.
What To Expect When You Rent A Car Now (You’ll Be Surprised)
One of the most surprising recent developments has been with Hertz, which has charged forward with EV adoption.
In September, Hertz announced it would order up to 175,000 EVs from GM over the next five years. Just a few days later, it announced a deal with BP to expand the number of charging stations.
“Hertz is not only incorporating more EVs into their fleet through its five-year deal with GM, but also getting into the charging infrastructure business with BP Pulse,” he says.
Hertz’s ambitions seem clear: It wants travelers to think of Hertz when they think of renting an EV, and with such speedy EV adoption, it may get its wish.
In September, Hertz announced it would order up to 175,000 EVs from GM over the next five years. Just a few days later, it announced a deal with BP to expand the number of charging stations.
“Hertz is not only incorporating more EVs into their fleet through its five-year deal with GM, but also getting into the charging infrastructure business with BP Pulse,” he says.
Hertz’s ambitions seem clear: It wants travelers to think of Hertz when they think of renting an EV, and with such speedy EV adoption, it may get its wish.
US Electric Cars Set Record With Almost 300-Mile Average Range
American drivers like everything supersized: spacious SUVs, hulking pickup trucks, the wide open road. It only makes sense, now that everything is going electric, that they also demand the world’s biggest batteries.
The average electric car sold in the US is fast approaching 300 miles between charges, according to a Bloomberg analysis of more than a decade of EV sales. Last year’s average range climbed to 291 miles, putting the US average above all other major car markets and a third higher than the global average. America’s distaste for small vehicles is so great that automakers don’t even attempt to import many of their popular low-range models, such as the Fiat 500e city car — Europe’s fourth best-selling EV — or China’s top-selling EV, the Hongguang Mini.
The typical US battery range has quadrupled since 2011, when the only widely available EV was the Nissan Leaf with just 73 miles per charge.
First Student plans to electrify 30,000 vehicles by 2035
School transportation service First Student plans to electrify 30,000 vehicles by 2035 and has selected Bechtel to design and build charging stations. The contract includes engineering, procurement and construction services.
The project is a stepping stone in First Student’s plans to electrify 30,000 vehicles in its fleet by 2035, according to the release. There is increasing demand for EV batteries and infrastructure throughout the U.S. and projects across the EV spectrum are receiving billions in federal funding.
Bechtel considers the burgeoning field of EV infrastructure and electrification to be a “very high priority,” Catherine Hunt Ryan, president of the company’s manufacturing and technology business, told Construction Dive in an interview. “We are focused on projects across the entire battery value chain. It’s the full package.”
The project is a stepping stone in First Student’s plans to electrify 30,000 vehicles in its fleet by 2035, according to the release. There is increasing demand for EV batteries and infrastructure throughout the U.S. and projects across the EV spectrum are receiving billions in federal funding.
Bechtel considers the burgeoning field of EV infrastructure and electrification to be a “very high priority,” Catherine Hunt Ryan, president of the company’s manufacturing and technology business, told Construction Dive in an interview. “We are focused on projects across the entire battery value chain. It’s the full package.”
Blink Charging to provide up to 41,500 EV chargers for growing USPS fleet
As part of its gradual shift to EVs, the US Postal Service has agreed to buy 40,000-plus chargers from Blink Charging. Blink's Series 7 dual-port charger delivers 80 amps of power and is suitable for both indoor and outdoor uses.
Tuesday, March 14, 2023
The road to an EV future still has a few potholes. Here's how to fix them
Around the world, governments are driving the shift away from fossil-powered cars to electric vehicles.
But several issues still pose obstacles to the widespread adoption of EVs. Here's a guide to those challenges – and how we can solve them.
Challenges to the widespread adoption of EVs
1. Inadequate charging infrastructure
2. Risk of grid overload
3. High-carbon grid profile
4. Finite critical minerals and rare earth metals
Advances in technology can help mitigate these challenges
1. Smart and flexible charging
2. Smart energy management for effective EV load management
3. Battery monitoring, analytics and recycling
More>>
But several issues still pose obstacles to the widespread adoption of EVs. Here's a guide to those challenges – and how we can solve them.
Challenges to the widespread adoption of EVs
1. Inadequate charging infrastructure
2. Risk of grid overload
3. High-carbon grid profile
4. Finite critical minerals and rare earth metals
Advances in technology can help mitigate these challenges
1. Smart and flexible charging
2. Smart energy management for effective EV load management
3. Battery monitoring, analytics and recycling
More>>
FHWA declines to set truck standards in EV charging rule
The Biden administration has largely avoided taking into account the concerns of the trucking industry in rolling out its first set of standards and requirements for a nationwide electric vehicle charging network.
The intentional hands-off approach, according to a final rule to be published by the Federal Highway Administration on Tuesday, is meant to avoid getting in the way of evolving technology for powering medium- and heavy-duty (MD/HD) electric trucks.
“The FHWA … cannot regulate minimum standards that have not yet been identified or innovated in the industry,” the agency stated. “FHWA understands that the MD/HD charging industry is very nascent and rapidly evolving. As such, FHWA has not modified the language in this final rule to specifically accommodate MD/HD needs so as not to preempt the pace of technological innovation.”
The intentional hands-off approach, according to a final rule to be published by the Federal Highway Administration on Tuesday, is meant to avoid getting in the way of evolving technology for powering medium- and heavy-duty (MD/HD) electric trucks.
“The FHWA … cannot regulate minimum standards that have not yet been identified or innovated in the industry,” the agency stated. “FHWA understands that the MD/HD charging industry is very nascent and rapidly evolving. As such, FHWA has not modified the language in this final rule to specifically accommodate MD/HD needs so as not to preempt the pace of technological innovation.”
Why automakers are buying into the mining business
With lithium being a hot commodity for electric vehicle batteries, automakers like General Motors and Tesla seek to own at least a part of that supply chain by investing in mining companies. "Lithium is today the common denominator across all battery technology and it's likely going to stay that way for the next 10 to 15 years," said Pedro Palandrani, in charge of research for Global X ETFs.
$141B flowed into US energy transition in 2022
Energy transition financing in the US hit a new record of $141 billion in 2022, driving 32 gigawatts of new renewable energy capacity, according to BloombergNEF and the Business Council for Sustainable Energy's Sustainable Energy in America 2023 Factbook. Trade issues, cost inflation and other headwinds slowed growth in 2022, but it was still a banner year for utility-scale, non-hydro energy storage additions. "[P]airing renewables with storage is becoming a common cost-effective option to displace fossil fuel projects," said the report.
Duke Energy to mobilize microgrid-integrated fleet electrification center
Duke Energy has announced it will build a first-of-its-kind performance center that will model and accelerate the development, testing and deployment of zero-emissions light-, medium- and heavy-duty commercial electric vehicle (EV) fleets. The site will be located at Duke Energy’s Mount Holly Technology and Innovation Center and will incorporate microgrid integration.
The fleet electrification center at Duke Energy’s Mount Holly Microgrid Center will provide a commercial-grade charging experience for fleet customers evaluating or launching electrification strategies – reinforcing reliability, clean power and optimization by integrating with solar, storage and microgrid controls software applications. By the end of 2023, fleet operators will be able to experience a best-in-class, commercial-grade fleet depot, integrated with energy storage, solar and optimization software, showcasing a model for reliable fleet electrification.
The center will be able to be connected either to the Duke Energy grid, charging from the bulk electric system, or powered by 100% carbon-free resources through the microgrid located at Mount Holly. The project is the first electric fleet depot to offer a microgrid charging option.
The fleet electrification center at Duke Energy’s Mount Holly Microgrid Center will provide a commercial-grade charging experience for fleet customers evaluating or launching electrification strategies – reinforcing reliability, clean power and optimization by integrating with solar, storage and microgrid controls software applications. By the end of 2023, fleet operators will be able to experience a best-in-class, commercial-grade fleet depot, integrated with energy storage, solar and optimization software, showcasing a model for reliable fleet electrification.
The center will be able to be connected either to the Duke Energy grid, charging from the bulk electric system, or powered by 100% carbon-free resources through the microgrid located at Mount Holly. The project is the first electric fleet depot to offer a microgrid charging option.
Interoperability of EV infrastructure is a big ask, panel says
The nationwide buildout of an electric vehicle charging network will, experts on a recent panel said, require interoperability that involves data-sharing, reporting, billing, taxes and security.
Looking to the mainstreaming of other technologies, CEO David Knight of software company Terbine says, "Just like what happened with [ATMs], 'roaming' cellphones, we believe gradually, it will start to happen. But it's going to take a while, so this isn't an overnight thing.
BNEF: Grid of the future must look a lot different
The global electrical grid must span 152 million kilometers by 2050 in a net-zero emissions scenario, but getting there won't be easy for the US due to the patchwork nature of its current electrical system, asserts BloombergNEF.
Multiple barriers must be overcome to build the grid the US energy transition requires, and access to capital is one of the largest concerns. The Inflation Reduction Act and infrastructure law present a bright spot because they contain $29 billion in funding for grid efforts that could unlock $83 billion in additional investment.
Several EV Startups Experiencing Headwinds - Arrival stabilizes
💰 Arrival, a struggling electric van startup, secured a $300 million equity financing line via Westwood Capital as it looks to stabilize and launch production at its North Carolina factory next year.
- The big picture: The company is among several EV startups to hit severe headwinds after going public during the SPAC frenzy.
🚐 "Rivian and Amazon are in discussions to adjust the exclusivity clause of their agreement for the EV maker’s electric delivery trucks, a company spokeswoman said Monday," CNBC reports, confirming a WSJ story.
What the SVB collapse means for climate tech
Julia Travaglini, a senior VP with prominent incubator Greentown Labs, said they're "actively working" to gauge effects on their roster of 200-plus startups, noting many use SVB.
- "Beyond the Greentown community, this will have tremendous repercussions on climate tech startups and VCs in our space," she said in an email exchange prior to federal regulators' moves Sunday.
Zoom out: Wedbush Securities analysts, in a note, predict a "tighter financing landscape going forward for tech community...the hurdle for bank loans and other forms of debt financing will be a different world going forward."
Clean energy to account for 84% of new US power capacity
Data from the US Energy Information Administration indicates carbon-free power plants are set to deliver 84% of new electric capacity this year, up from 78% in 2022. Battery storage is expected to take second place for new capacity this year, the report states.
More>>
More>>
Biden plans increased funding to enhance electric grid
President Joe Biden's 2024 budget proposals include an 8.7% spending increase for the Department of Energy, with a $107 million allocation to support development of a more reliable grid. The budget also calls for almost $4.5 billion for clean energy infrastructure and $83 million for electrification and renewable energy in tribal communities.
Generac Announces Strategic Minority Investment in Rolling Energy Resources, EV Telematics Software Company
Generac Power Systems, Inc., a leading global designer and manufacturer of energy technology solutions and other power products, today announced a strategic minority investment in Rolling Energy Resources (“RER”), a provider of electric vehicle load management software used by utilities and electric vehicle owners to monitor, control and optimize charging.
RER and Generac Grid Services are currently working together to provide utilities and consumers with EV load management solutions for charge monitoring, behavioral demand response, and automated smart charging through direct-to-vehicle communications. These capabilities, in conjunction with Generac Grid Services’ industry-leading Virtual Power Plant (VPP) and Distributed Energy Resource Management System (DERMS) platform, Concerto, provide a comprehensive solution for utilities to address the growing challenge to the electrical grid resulting from the rapid growth in EVs.
RER and Generac Grid Services are currently working together to provide utilities and consumers with EV load management solutions for charge monitoring, behavioral demand response, and automated smart charging through direct-to-vehicle communications. These capabilities, in conjunction with Generac Grid Services’ industry-leading Virtual Power Plant (VPP) and Distributed Energy Resource Management System (DERMS) platform, Concerto, provide a comprehensive solution for utilities to address the growing challenge to the electrical grid resulting from the rapid growth in EVs.
Canoo, Lucid Motors win contracts to develop battery modules for Defense Department
Canoo and Lucid Motors were awarded contracts to develop battery modules for testing and analysis on Department of Defense platforms.
The two companies will help the department standardize a battery module that would increase the agency’s demand signal for commercial batteries and reduce barriers to commercial sector collaboration. GM Defense and two more yet-to-be named manufacturers are also participating.
The manufacturers will also be part of the Jumpstart for Advanced Battery Standardization project, which will allow commercial EV battery manufacturers to test and develop standards required to adapt batteries for a vast range of Defense Department platforms.
The two companies will help the department standardize a battery module that would increase the agency’s demand signal for commercial batteries and reduce barriers to commercial sector collaboration. GM Defense and two more yet-to-be named manufacturers are also participating.
The manufacturers will also be part of the Jumpstart for Advanced Battery Standardization project, which will allow commercial EV battery manufacturers to test and develop standards required to adapt batteries for a vast range of Defense Department platforms.
Ford Reveals An All-Electric School Bus
Ford revealed an electric Type A school bus based on the E-Transit chassis.
The E-Transit was first introduced by Ford back in 2020 as an all-electric smart workhorse version of its best-selling cargo van to power the future of business.
Ford says the E-Transit is the first van from a full-line automaker to offer a Type A school bus on an electric powertrain.
The E-Transit was first introduced by Ford back in 2020 as an all-electric smart workhorse version of its best-selling cargo van to power the future of business.
Ford says the E-Transit is the first van from a full-line automaker to offer a Type A school bus on an electric powertrain.
Subscribe to:
Comments (Atom)