CleanTechnica•about 2 months ago
US Needs to Triple EV Sales to Start Reducing ICE Vehicle Fleet
Key Takeaway
The projected need to triple EV sales signals a massive, long-term increase in electricity demand, creating significant opportunities for new generation, storage, and transmission infrastructure development, while also posing grid stability and pricing considerations for large power consumers.
AI Summary
- •EV sales in the US need to triple from current levels to begin reducing the total number of Internal Combustion Engine (ICE) vehicles on the road, indicating a substantial future increase in electricity demand.
- •Current EV adoption rates are not yet sufficient to offset new ICE vehicle sales, implying a continued, aggressive ramp-up is required to achieve decarbonization goals for transportation.
- •This projected growth in EV sales represents a long-term driver for increased electricity demand, creating significant opportunities for new generation capacity (renewable and flexible dispatchable) and grid infrastructure investments for developers and IPPs.
- •Large power consumers should anticipate future grid strain and potential price impacts as transportation electrification accelerates, emphasizing the need for grid modernization and potentially localized energy solutions.
Topics
datacenteremissionsfinancingpolicysolarstoragetransmissionwind
Article Content
Zach’s recent post on the bump in Q3 ICE and EV sales brought up a question: How far do we have to go before EVs start reducing the total number of ICE vehicles on the road? Looking at the latest data from Hedges & Company, from 2012 (248.7 million) to ... [continued] The post US Needs to Triple EV Sales to Start Reducing ICE Vehicle Fleet appeared first on CleanTechnica .