EVs add to electricity demand, but not as much as you might think
But integrating EVs to power grid still requires careful planningCalifornia recently asked homeowners to reduce electricity consumption to help avoid blackouts as temperatures soared and the power system struggled to keep up. The plea was effective, with consumers temporarily dialing back demand enough to keep the lights on across the state.
How should we best think about that number? One way is to compare it to global electricity demand, which will be somewhere around 28,000 TWh this year, so EVs will add around 0.2% to the total. Looking at this another way, the global passenger EV fleet consumes a similar amount of electricity as Singapore.
At BNEF, we’re expecting rapid EV adoption in the next two decades, so this picture will change. Our annual EV Outlook has two main scenarios: one that assumes market forces are the main driver of adoption and that no new policies get implemented, and another that assumes every country in the world gets on track for net-zero CO2In the first case, which we dubbed the Economic Transition Scenario, battery-electric vehicles represent three quarters of global passenger vehicle sales by 2040.
One final way to think about this: In 2021, China generated 983 TWh of electricity from wind and solar, 25 times more than the global passenger EV fleet used. China added around 255 TWh of new wind and solar generation to its energy mix in 2021, meaning its newly installed renewable generation produced more than six times what the entire global passenger EV fleet — built up over many years — consumed.
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