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Under normal conditions, this stabilizing technology will be particularly important as the powergrid is expected to rely more and more on variable renewable resources such as wind and solar technologies. First, reducing the cost of integrating variable renewable generation reduces the electricity costs for all ratepayers.
To fully acknowledge the importance of smart charging for EVs, it helps to compare it to “dumb charging.” Consider plugging in your cell phone: While it can communicate to you its charge level , the phone is not communicating with the powergrid and the charging implement to adapt its power usage.
Operation Cost. As with most EVs, the cost of operating a gas-powered vehicle is simply higher than that of operating an electric one. Also, the majority of these vehicles sit unused during the summer when electricity demands are often the highest and take the greatest toll on the powergrid.
Total Cost of Ownership (TCO) : A more reliable and available network leads to reduced CapEx and OpEx resulting in reduced TCO for network operators. Installation can be costly, but dramatically speeds at-home EV charging time, depending on the exact charger model and local powergrid access.
It provides the speed that EV drivers want, but comes at a high price, with DC fast and ultrafast chargers costing tens of thousands of Euros/Pounds/Dollars. That means a high cost of investment today, with long-term payoff over the next years of EV growth. Setting up more charging stations is not the only consideration.
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