u.s. utilities look to electric cars as their savior amid decline in demand - home air cleaner

The U. S.
The electricity industry sees the developing electric vehicle market as a remedy for an unprecedented decline in demand for electricity.
After decades of growth in demand for electricity, experts say the utilities sector has seriously underestimated the impact of the surge in cheap renewable energy and natural gas production.
For the first time in history, the Tennessee Valley Authority has predicted that demand for the seven states it serves will drop by 13%, the federal government-owned agency 85-year history.
Electric vehicles (EVs)
Only 1% of America. S.
The auto market, but utilities are taking advantage of their increasingly popular advantages, investing in charging infrastructure, and working with automakers to offer kickbacks, Quartz reporter Michael J. Coren.
A report from the Rocky Mountain Institute
Clean energy research group is profitable and there may be nearly 2 projects.
There will be 9 million electric vehicles on the road in the next five years.
"I think everyone is very surprised by how fast electric cars are being sold," he told Jeremy Hobson here now.
"Electric car manufacturers are realizing electric cars. . .
Basically, cars will be in the next 10 to 20 years.
Bloomberg estimates that if all existing U. S. cars and non-
Commercial trucks have been converted into electric trucks, which will increase the demand for electricity by about 774 kWh, which is almost equivalent to the power generation of the entire United States. S.
The industrial sector.
Electric vehicles are expected to account for about 5% of global electricity consumption by 2040.
Utilities are seeking to surpass this expected growth.
Earlier this month, a group of 36 companies wrote a letter to Congress lobbying to lift the ceiling on tax credits for electric vehicles.
Currently, Americans who buy electric cars receive a federal tax credit of $7,500.
But the government plans to gradually cancel these credits after each car company sells 200,000 cars.
Tesla is likely to see their tax credits disappear this year, followed by GM and Nissan.
This means that when electric companies need electric cars, there is less chance that people will buy electric cars.
Many automakers disagree about whether raising the threshold indefinitely will drive sales.
"In fact, these incentives give us a relative disadvantage because Tesla's customers won't get any tax credits soon," said Tesla CEO Elon Musk . ".
"With the disappearance of incentives, Tesla's competitive advantage has improved.
"The task of preparing for a surge in electric vehicle ownership could cost the power industry hundreds of billions of dollars.
The aging energy infrastructure will not be able to accommodate new cars plugged into the grid, causing many Transformers to explode, Coren said.
"If they need it, they have enough power to get all the electric cars on, but if they plug in at the same time, it won't," he said . ".
"So the grid must have a so-called managed charging system to handle all new loads.
"At the same time, utility companies will be forced to adjust their business models to cope with the decline in revenue.
"Efficiency reduces the revenue of utilities, not the cost, which is a big problem," says Amory Lovins, chief scientist and co-scientist.
The founder of the Rocky Mountain Institute told Bloomberg.
"The whole business model is reversed.
"At the moment, because monopoly regulations prevent companies from selling electricity, utilities make money by investing in power plants and other infrastructure.
Colen explained that utilities have to develop strategies to make money through services rather than hardware.
"We will have to stop seeing utilities as the primary source of electricity and see them as a reliable network and start paying for it," he said . ".
Even if you get energy from solar panels and other renewable sources on the roof, sometimes you still need power from the grid-for example, if it's a cloudy day with a strong wind --
"As a backup, you need to move it around the state and even around the area," Coren added . ".
While utilities will be forced to transform, falling demand is actually a good thing.
That's why utilities, when it comes to raising the EV tax credit to Congress, believe that investment in the EV market will help push the energy industry forward.
"Removing the upper limit for manufacturers will provide certainty for automakers and consumers," the letter wrote . ".
"It will also enable the utility industry to achieve an electrified transportation future, create and sustain more American jobs, reduce our dependence on foreign oil and make our air cleaner,