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The Enact Journal

Effects Of EV Vehicles Growth On The Solar Industry

Published On : 08/10/2021

36% of solar owners are likely to own an electric vehicle. Solar power is by far the cheapest source of electricity to charge EVs at home, so no wonder that is the trend

The last decade has seen phenomenal growth in the EV (electric vehicles) sector. From merely being a probability to running full-throttle across the globe, it has grown in leaps and bounds. With President Joe Biden promoting EVs, the idea is bound to get more traction, especially in the States.

In America, we are experiencing a rise in affordable, long-range models. While the technology was initially considered too costly for the masses, continuous innovation has led to a point where even middle-class people can afford it with relative ease.

This article discusses the impact of EV cars on the solar industry and how it is set to see a complete revamp in the next few years.

Solar and EVs set to benefit from grid modernization

When there is a synergy between two technologies, it becomes easier to set them up for mass adoption. Such has been the case with the solar industry and EVs. With modernization being a common phrase across sectors, the solar industry is the one actually going through a massive overhaul. The changes to the electricity grid to make it more power efficient and capable of managing power fluctuations would enable different forms of EV vehicles and solar to form a more meaningful relationship.

Potential for newer market models

While the solar industry has been here for a long, EV is a relatively newer technology trying to make a mark. With both of these techs coming together, there is a lot of potential for newer market models that they can unearth. For example, EV’s large battery packs can act as storage devices for grid operators. It can lead to the distributed grid of the future being a possibility that we all have been listening about.

It is why many states have begun piloting programs for understanding EV owners’ behavior and accordingly manage their energy policies. They are also on a drive to educate and motivate EV and solar owners to suggest potential infrastructure deployments that can help manage electricity loads and improve grid stability.

EVs can act as a bridge for covering power shortage

With EV vehicles gaining traction, it will eventually lead to an increased load on the grid. So it is imperative for houses dependent on solar energy to have ample storage, and it also presents an opportunity for electric vehicle-to-grid programs to prosper. By using time-of-use rates, customers’ electricity demands can be met depending on when the grid needs it at an agreed rate using EV charging.

Supercharge your solar and storage business with Enact

The growth of EVs has already started having a positive impact on the solar industry. At Enact, we understand your solar needs. Our end-to-end software platform is adept at supporting you throughout the lifecycle of the project.

If you are interested in supercharging your solar business, you can get a free trial of our software by clicking here.