When tipping point 2 arrives — with more and more of us driving and charging EVs — the grid will be under increased pressure, and significant new infrastructure, such as charging stations, will be required to enable the much-needed decarbonization of our transport.
This highlights the urgent need for European utilities to prepare now by developing a long-term digital grid investment strategy to:
- Plan to build or upgrade grid assets to ensure they are digital-ready
- Adopt or acquire the capabilities to maintain and maximize networks that are digital from end to end
Opportunity to converge with adjacent industries
EY modeling suggests that mainstream adoption of EVs by 2025 could make up as much as 30% of the electricity demand lost through growing grid defection and energy-efficiency measures.
But opportunities will stretch beyond providing energy for these vehicles.
Consider the potential: millions of EVs will mean millions of batteries that could be integrated into the system, providing more opportunities to manage and optimize the grid.
Smart grid technologies, such as advanced metering infrastructure could allow charging stations to be integrated with time-based rates that encourage off-peak charging. This also offers potential for utilities to use data around how and when people charge their EVs to guide future investments or collaborate with adjacent industries on new commercial opportunities.
In the future energy world, the value of the network will lie in its data, not physical assets. Utilities must understand the implications of this shift.
The competition for data among industries will be an important one. And whoever has the best brand and the most intelligent applications will win.