The Future of Electric Vehicles and EV Charging

The Future of Electric Vehicles and EV Charging

Blockchain-EV-Charging

More and more automobile manufacturers are introducing new electric vehicles. However, one of the major concerns is still there: How will these electric vehicles be charged? What really is the future of EV charging?

In a post Covid-19, scenario there is a number of incentives to help, including some for installing more charging stations. Additionally, many companies and industry analysts are offering their insights, predictions, and solutions for a greener and cleaner EV charging future. As a result, many solutions have come up, such as smarter software, incentives, apps, load balancing, and blockchain.

Future of Electric Vehicles

 

EV Charging – A Problem for Future EV Buyers

One of the most vital aspects of EV infrastructure is home charging. It is very important and does not get enough attention. There are problems with public charging. Additionally, there is a huge gap between driver awareness and the actual number of charging stations. EV users are not aware of where public charging stations are. So, for present and future EV chargers, we need to improve signage. Also, we need stress education and awareness.

Due to the Covid-19 pandemic, potential EV buyers like to charge at homes. Beyond just the convenience, EV drivers aren’t risking catching COVID by touching a contaminated charging gun. However, there is still a maze of incentives that are difficult to navigate when installing chargers at home. The good news is that once consumers buy an EV, they have the highest satisfaction rates amongst vehicle owners.

Free EV Charging or Fee EV Charging?

During the pandemic and amid stay-at-home mandates, more people are learning that a slow trickle level one charge at home is enough for them. However, that’s not likely to last forever. EV drivers are going to learn start swapping home charging for public chargers.

The next big thing coming up for charging in the near future is the ISO 15118. This standard will not require drivers to swipe a card to pay for EV charging. It makes other charging systems more like the Noodoe EV Chargers.

For most drivers, when they start using DC fast-charging stations, they don’t want to go back to slow charging. This is true even if they have to pay for charging.

Tesla knows this all too well. In fact, with its recent price decreases on vehicles, Tesla is no longer including free charging for the Model S and X. More chargers are required to make economies of scale and most likely there will be a future spike in prices that will eventually flatten out.

Why Blockchain for EV Charging?

Blockchain is a way of securing digital information. It automates interactions between devices. Basically, blockchain consists of an algorithm that orders information and share data. Blockchain supplies a framework for identity for different infrastructures to relate with each other.

Blockchain could also be important for creating ways for multiple parties to share in the revenue of future EV charging. It would also support EV service operators by balancing infrastructure.

Use case scenarios for blockchain in EV charging would be in processing vehicle-to-grid and peer-to-peer EV charger sharing, which could spur more EV sales. When consumers look to buy cars and know they could get paid $50 a month for their personal charging station or by sending energy back to the grid, they may decide to buy an EV over a gas-powered one.

Block-chain is emerging as an exciting technology that can help many services work together, automate EV charging, and solve problems while providing monetary incentives.

While the future of EV charging is uncertain, it still looks exciting!