Center for Entrepreneurship & Technology (CET) Technical Brief
Authors: Nicholas DeForest, Jamie Funk, Adam Lorimer, Boaz Ur, Ikhlaq Sidhu (PI), Phil Kaminsky, Burghardt Tenderich
There is a valid concern about the U.S. electric grid’s ability to absorb electric vehicles (EVs) into its already-stressed system. With aging existing power plants, population growth, an ever-growing reliance on electronics, and a wariness of building new plants, the nation’s utilities are already heavily taxed and may be hard-pressed to absorb more demand by supporting EVs.
It is widely agreed that the timing of EV battery charging will determine the grid’s ability to power EVs. This document explores the various considerations of EV charging in detail. Threats such as emerging federal and state policies, renewable energies challenges and human capital concerns are explained in-depth (and supported by various research and testing models), as well as opportunities such as valley filling and Vehicle-to-Grid. Also included within this document is an overview of various existing and emerging business models, providing examples of how traditional industry leaders can quickly adapt to remain ahead of the competition, and identifying new opportunities on which businesses can capitalize.