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Electric Vehicles Cause Electricity Demand Spikes

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Electric Vehicles Cause Electricity Demand Spikes

Cars, trucks and buses aren’t the only vehicles driving battery-powered transportation. Motorized bicycles, hoverboards, electric skateboards and battery-powered scooters are growing in popularity because their business models appeal to younger consumers who want to own less and want to live in cities that are becoming denser. Tesla underscored the importance of the electrical grid when its vehicles’ alerted owners in California that their electricity would be disrupted by wildfires. The early movers that build charging infrastructure along travel routes will have the power to shift traffic patterns and create a network advantage—similar to the way the interstate highway system created an economic boon for certain towns and sunk towns bypassed by the roads. Utility providers will be pressured to improve the grid resilience as domestic charging demands grow. Access and resilience of electricity grids will be key to economic prosperity in the future, as dependency grows for electric transportation.