Towards an Energy Future with Ubiquitous Electric Vehicles: Barriers and Opportunities
The electrification of personal transportation holds great potential for lowering greenhouse gas emissions and reducing climate change. The promise of electric vehicles (EVs) to serve these goals has resulted in a broad range of supporting policies aimed at encouraging widespread EV adoption at both the state and federal levels in the United States and around the world. While the EV revolution and prospects of a world with ubiquitous EVs are impacting various industries and many aspects of daily life, strategic interactions between the power grid and EVs are crucial for a successful energy transition. However, managing the interplay between EVs and the power grid remains a challenge. Motivated by that tension, this paper surveys a variety of solutions, policies, and incentives that are focused on effectively managing EV charging behaviors. The paper’s objective is to explore these tools to ensure that EV owners have ultimate control over their personal vehicles while simultaneously allowing the power grid to mitigate adverse network impacts. Furthermore, this paper examines the role of charging infrastructure technology and its strategic placement in facilitating the seamless integration of EVs into the grid. Additionally, the paper highlights financial mechanisms associated with EV integration and discusses the consequences of these mechanisms.