How the used electric car market is impacting the electrical industry
Many electric cars, including BEVs (all-battery vehicles) or PHEVs (plug-in hybrids) are emerging at a faster rate than a meteor. Expansion is done in the blink of an eye. In fact, traditional gasoline or diesel cars have been beaten by electric cars in terms of sales in Norway.
Used electric cars supporting sustainable mobility, which is the backbone of the future of the energy industry and the automotive sector. In the United States, the government imposed a tax credit of $ 7,500 as subsidies for BEV buyers in early 2011. Consider this fact, and then consider that the average annual EV sales between 2013 and 2014 were of approximately 580,000 units, representing 2.3% of total vehicle sales.
And the numbers have increased by about 107% during the years 2010 and 2011, representing about 2.3% of total vehicle sales. These numbers shouldn’t make you believe that electric cars are looking back for an ounce. To support this argument, it should be noted that from 2008 to 2014, the annual sales of PHEV, BEV as well as EREV (extended range electric vehicles) increased sharply in the USA. These were the years of growth for the electric car segment per se.
Many start-up electric car makers such as Coda, Fisker, Aptera and Better Place have silently screened and offered their products to the market, leading to their indefinite failures. But things started to change. the Electric vehicle market is thriving at a faster pace. The Chinese government is focused on protecting the environment from air pollution, and its main step in this direction is to support electric cars that save on hydrocarbon-based fuels. Electric vehicles have received overwhelming support from the Chinese government over the past decade.
In fact, the government has proposed that 30% of the vehicles expected to be brought in by local and central government officials or workers during the years 2014 and 2016 be fully electric. In addition to this, the government has also decided that buyers of electric cars or buyers of any automobile based on new energy will be exempt from paying sales tax (which, by the way, equates to almost 10% tax on the equity of the car). The decision was taken until the year 2017.
1996 introduced the EV incentive program in Japan. Thanks to the Japanese government, hybrids and electric vehicles were selling very well and even reached nearly 1.6 million units in 2013. In Germany, however, the market for electric vehicles is relatively new but it rebuilds fairly quickly and grows 25% almost every year.
Now that we are aware of what is happening in the automotive EV world in almost every major country in the world, let’s move on to the question “how is the used electric car market going to impact the world?” ‘electrical industry’. Further analysis of the impact EVs will have on the electricity market, whether in the presence of solar PV generation or not, is imperative to study to state what lies ahead for the market in the future.
Here, the Italian electricity market is taken into consideration. We take Italy as an example because during the years 2008-2013, 18 GW of photovoltaic power were installed in Italy. And the example can be translated into other electricity markets, and the results can be learned.
Main factors affecting the transition to electric mobility
Here are some of the main reasons EVs have been a major turnaround technology over the years:
- The extended availability of liquid fossil fuels, which were inexpensive, led to the success of ICE vehicles around the world.
- Liquid fossil fuels contain a fairly high energy density compared to other energy carriers. For example, 12 hWh of intrinsic thermal energy are packaged in 1 kg of gasoline.
- Another reason why ICE vehicles are witnessing significant changes in the growing sources of air pollution that pose a threat to urban areas and the residents who live there. The reason behind the invention of electric cars, which are sustainable, is that they do not harm the environment by producing dangerous emissions and would contribute to sustainability.
To be precise, EVs offer major environmental benefits. However, the impact largely depends on a mix of energy sources that would generate electricity to support electric vehicles and the location of heat sources. This explains how electricity generation plays an important role when you assess electric mobility. So if we are to reap the benefits of electric mobility, then we should start thinking about how we are going to generate the necessary electricity and how much of it would be sustainable. This must be well thought out taking into consideration not only the environmental impacts but also the health impacts of urban life and climatic points of view.
When we talk from an economic or technical point of view, we can see industries making a smart move to electric vehicles. In the United States, it’s easy for drivers to buy electric cars for $ 20,000 or less. Considering the average monthly electricity costs, it would only exceed $ 23. We can see with the naked eye how Electric vehicles grow and grow rapidly in the whole world.
How will the used electric car market impact the electricity industry?
We can expect a large impact of electric cars themselves on the electric industry, not to mention used electric cars. Modern electric vehicles exhibit two-way power flow capabilities, which are ultimately unbeatable. The market price of electricity is likely to be affected as the demand for electric vehicles continues to grow. When the subject matter is applied to the Italian wholesale electricity market, this is what we get as a result:
- Lightweight cars or vehicles that require less gasoline can be replaced by EV technology which is currently in full swing.
- The significant drop in gasoline consumption has resulted in an overall drop that is ultimately over 30% in more than 7 years.
- The energy of the fuel will be replaced indefinitely by electricity. Electric cars, the future of the automotive industry. Taking 12 kWh / kg of motor gasoline as the electrical content assumption, the energy efficiency of the ICE is 20% and that of electric vehicles is 80%.
- BEVs are currently charged overnight, but the future also calls for daytime charging. This is important in order to amplify the impact of increased demand for electricity on the market price.
For used electric cars, the impact will be twofold, as electric cars are as successful as expected in the industry. Used electric cars will be like saving on something you’ve already saved. And the impact of electric vehicles on the electric industry that we studied will be similar, if not equal.