The gist, there is a 3 prong approach to making EVs a mass reality, the first one is a need for working solutions to allow for as much clean, renewable energy sources for energy, the next is obviously developing and manufacturing EVs, with increased energy storage capacity, and the third is making sure the grid are smart enough to accommodate everyone. In the last pronged race, private companies and electricity utilities have joined the race. One such utility that has been very active is Austin Energy, according to the New York Times.
The Need For Utilities To Redefine Business. Utilities might have, at some point to redefine the way they do business. Their is a shift for many consumers and clients who are installing solar panels, wind turbines to lower their electric bills. This will force utilities, if the trend continues to grow, to find a way to reinvent the way they handle the way they do business. Maybe, what Linux companies do to make a profit on the service of the product alone, instead of the sale of the operating system can apply here.
In the current model, utilities produced the energy and deliver it to commercial and residential customers. However, with homes and businesses generating electricity sold back, utilities can now focus more on redistributing and transmitting the energy. Plug-in hybrids, PHEV will be an important part of intelligently load balancing the grid and acting as sub-stations with software, such as V2G.
Utilities, such as Austin Energy are working to install “smart meters” in homes which allows both home and building owners, to work with utilities by monitoring power demands in real time, creating a more efficient system of electricity pricing. The race towards a greener tomorrow using available technology is unfolding at a fast pace. With constant innovations in the battery storage sector, we should see the results in a few years.