How can we shine a light on the smart choices for the long term in this confusing moment? Among other things, we can strike up conversation within our community. While most of us work from home and hang back from the ways we'd normally convene, we'll be sharing more insights from across the CBEY network. Here, economist Ken Gillingham lays out what the oil shock might mean for solar markets' progress- and how that progress can persevere.
While the sector’s market share is small, Wood Mackenzie expects the 2020s to be a decade of battery electric vehicle growth. The group says it sees global battery electric vehicle market share increasing from 3% in 2019 to 14% by the end of the decade in its base case scenario.
FleetCarma launched its Charge the North study in 2017 to capture and analyze real world charging data from 10 electric utilities and a thousand EV owners across Canada, covering residential, public and workplace charging. Phase one ended in 2019 and phase two is expected to launch later this year.
Source: Los Angeles Transportation Electrification Partnership
In the Roadmap, the partners set a goal to move toward an additional 25% reduction in greenhouse gas emissions and associated air pollution through accelerating transportation electrification by the time the world arrives in Los Angeles for the 2028 Olympic and Paralympic Games.
Utilities are eyeing vehicle-to-grid technology as a way to help fortify the grid and reduce operating costs while meeting renewable-energy goals, making use of the batteries in vehicles that spend more than 90% of their lives off the road and unused.
Opportunity zones, part of the Tax Cuts and Jobs Act, allow investors to place their capital gains in legally established funds for projects in economically distressed areas defined by the federal government. A secondary attribute, appealing to clean energy developers, is that opportunity zone funds can be used for solar, microgrids, electric vehicle charging stations and energy storage.
The oil industry faces an uncertain future. The world is rapidly waking up to the severity and immediacy of the threat from climate change. At the same time, electric vehicles are getting cheap enough to compete with internal-combustion engines.
While the bus market historically has been dominated by internal combustion engines, electric buses are increasingly popular in transportation headlines. More and more, transportation agencies are setting sunset timelines for the purchase of diesel buses and announcing goals to transition to zero-emission fleets — primarily through bus electrification.
Although China’s conventional auto industry has never matched that of nations like Germany, Japan or the United States, the nation has managed to outpace rivals in the production and adoption of electric vehicles (EVs). Last year, the majority of all the world’s electric cars were sold in China. China’s electric vehicle purchases exceeded U.S. sales by 2015 and in 2018, over 1.1 million electric cars were sold in the country.