Eaton, along with NatWest and Lombard and in partnership with Renewable Energy Association, has published a new report by Aurora Energy Research which highlights the scale of commercial opportunity for electric vehicle charging.
Commercial and Industry (C&I) sites will have an important role to play in providing charging infrastructure for electric vehicles. The new report “Opportunities in Electric Vehicle Charging at Commercial and Industrial Sites” examines the future opportunities presented by C&I charging in Great Britain and Germany.
The report states that the number of electric vehicles in Great Britain and Germany will grow rapidly. Starting from 140,000 EVs in GB and 200,000 in Germany in 2018, Aurora’s forecast sees 17m and 23m by 2040 in GB and Germany respectively.
This growth in electric vehicles is expected to transform electricity systems by increasing electricity demand and affecting electricity prices.
The report also states that by 2040, the high development of electric vehicles combined with smart charging would reduce total emissions attributable to cars by 90 per cent in the UK and over 50 per cent in Germany.
As the fleet of electric vehicles grow, the investment opportunity for C&I EV charging could reach £2bn-£6bn in GB and €3bn-€8bn in Germany.
In addition to this, adding vehicle-to-grid (V2G) capabilities, on-site energy storage or solar panels can enhance the business cases for C&I electric vehicle charging. These technologies could unlock savings on electricity costs, reduce the scale of network upgrades needed, and provide extra revenues from the capacity market.
Read the full report here.
Eaton is a Platinum Sponsor at this year’s Sustainable Innovation Forum taking place in Katowice, Poland on the 9th and 10th December, find out more here.