CES predicts widespread EV adoption in the 2020s
The automotive pavilion at CES made apparent that the future of transportation is undoubtedly electric. Mercedes-Benz unveiled the Vision AVTR, a “zero impact car” powered by a battery composed without rare earths and metals, making it compostable and recyclable. Electric scooter company NIU presented their RQi electric motorcycle and the TQi three-wheeler covered scooter that aim to bring affordable electric motorcycles to the United States.
2020 is going to be a tipping point for new automobiles. You’ll have much greater functionality, much more choice, and much lower prices in the market. EV adoption is coming quickly.
Electric vehicle adoption is on the rise. A recent Enel X study found that, after learning about the full range of electric vehicle benefits, nearly two-thirds of Americans say they plan to purchase an EV in the future. This is a sign of what’s to come: global sales are predicted to keep increasing, with Bloomberg predicting 12 million forecasted EV sales for 2025.
A critical component to widespread EV adoption is the reliability and accessibility of charging stations. Just last week, we launched our next generation of smart charging solutions in North America for residential, commercial, utility, and automotive customers. The product line builds off of our best-selling flagship charger, the JuiceBox 40, and will speed EV adoption and support the decarbonization of energy and transportation sectors by providing greater accessibility to smart charging. As more customers turn to EVs, Enel X is meeting the rising demand with technologies that helps communities reach ambitious clean energy goals more efficiently and cost-effectively.
We have also partnered with utilities companies Puget Sound Energy (PSE) and Seattle City Light in Washington to launch smart charging programs that will provide more than 550 Enel X JuiceBox chargers to residential customers.
While charging time was cited at CES as a barrier to EV adoption, Enel X’s new JuiceBox Level 2 smart charging stations charge electric cars up to 14 times faster than standard Level 1 chargers. Its access to JuiceNet, Enel X’s IoT platform, allows customers to further reduce the cost of EV ownership through charging EVs when energy costs are lowest.
Beyond utilities, workplaces, hotels, campuses, venues, and more can establish themselves as forward-looking sustainability leaders in 2020 by offering commercial charging stations for a fee (or even for free). Increasing access to chargers will boost EV adoption, which will in turn provide critical data through our JuiceNet software to support continued growth of electric transportation.
Flexible energy solutions for businesses
Large companies consume enormous amounts of energy each year, which can put significant strain on the electrical grid while also negatively impacting CO2 emissions. However, industries from higher education to food packaging and everything in between are realizing that energy can be a controllable, and even profitable, part of their business with the assistance of the right technology and advisors.
At CES, Enel X demonstrated its solutions for businesses to help meet electricity growth, manage risk, reduce costs, create new revenue streams, and improve sustainability performance. Enel X’s demand response program allows companies to help alleviate pressure on the grid when it needs it most, such as immediately following a natural disaster. In return, businesses earn payments for reducing unnecessary energy consumption temporarily —all while helping to create a more affordable, sustainable, and resilient electric grid.
Deloitte, through their 100 Percent Renewable Transition Survey, predicts that the US energy storage market size could reach almost $5 billion by 2025, up from $1 billion in 2019. And that’s because the benefits of this solution are proven. Battery storage can help businesses reduce their demand on the grid, carbon footprint, and time-based costs, which in some markets can account for as much as 85% of their total energy electricity spend. Storage also enables the addition of more renewable resources to the grid by taking traditionally intermittent resources and making them dispatchable when and where the energy is needed. This is a sustainable solution that is good for companies, the grid, and the environment.
Enel X’s solar-plus-storage solutions enable businesses to continue powering critical equipment amid grid outages and power quality issues. The ability to self-generate, store, and consume clean power on-site not only enables businesses to continue operating when the grid goes down, it gives them an opportunity to participate in regional demand response programs.
Transitioning to a Circular Economy
The energy revolution cannot be achieved in a silo, and is more than energy procurement—operating a business sustainably requires that companies rethink every aspect of their supply chains. Through the circular economy model, Enel X is eliminating the use of fossil fuels and developing products with reusable and recyclable materials, ensuring that products are produced without negatively impacting the environment.
CES demonstrated that sustainability is top of mind for the world’s top tech companies in a time when climate change concerns are reaching unprecedented levels. This decade is going to be critical for the movement against climate change—and if CES is representative of what is to come, we are prepared to work alongside governments, consumers, and other companies to develop, promote, and adopt innovative energy-related solutions in the 2020s.
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The energy industry is changing and in partnership with our customers, we’re shifting how they engage with energy, moving to more sustainable and responsible uses.