The Electric Vehicle market broke records in 2021 with a whopping sales of 607,600 light electric vehicles in the United States. There was an 83% increase in sales as compared to 2018! These numbers are good enough to say that the EV market has taken off its flight towards mass adoption. But there still remains a sense of hesitation to switch completely toward electric vehicles. There are quite a few reasons for this including range anxiety, battery issues, high upfront cost, and complex financing options. So, here are a few steps that can lead to faster adoption of EVs in the US, transitioning to green energy vehicles.
1. Flexible Charging Systems
Charging time has been the number one concern while switching to EVs. We need to consider the fact that cars are idle 80% of the time. Home charging stations can be an excellent way to utilize idle time and make charging more convenient. Apart from that, the public charging infrastructure is being worked upon by public and private firms in the US. Battery-as-a-Sevice (BaaS) or battery swapping is another way to reduce the charging downtime and replace batteries on the go.
2. Make Financing Easier
Electric Vehicles have high upfront costs and hence, people are a little hesitant to invest in EVs. The Government has already taken a few steps toward making EV financing easier such as low-interest rates, tax rebates, etc. You can check for financing options in your area by visiting Bank of America’s website and selecting your location. Furthermore, flexible repayment options, leasing structures, and incentive-based purchases should be brought to light. Once there are enough convenient financing options, the resistance of people to purchase EVs will decrease.
3. Smart Energy and Load management
Energy and load management is the need of the hour to make energy available at the time and place it is required. Real-time energy monitoring systems using IoT (Internet of Things) and artificial intelligence algorithms can be used to manage the load. The factors that can be monitored are EV charging time, heating, cooling systems, and lighting. This monitoring allows stationary storage to be optimized with other assets connected to the grid and makes sure that the load, as well as output, is balanced.
4. Battery Monitoring and Recycling
Battery data is a significant key point to maximize the health and performance of the batteries.
Battery analytics can help the consumers to predict the life span as well as the extend it. Furthermore, this data can help make better predictions for battery recycling and repurposing the lithium-ion battery packs. Hence, battery monitoring software should be focused on making it as accurate as possible.
5. Consumer Awareness
In recent years, the awareness of green and renewable energy has significantly increased among the people. But when talking about electric vehicles, people still don’t fully understand and agree with their benefits. Consumer forums, social media platforms, events, and campaigns should be used effectively to spread awareness and understand the underlying problems faced by people. When people will truly understand the environmental as well as the economic benefits of EVs, there will be no looking back.
Conclusion
Electric vehicle adoption has already geared up in the United States, we are just a few steps away from mass adoption. For EV charging, design plays a crucial role in setting up the entire infrastructure. We at Finulent are simplifying EV charging station design! Get in touch with us to know more.