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One of the most cited benefits of switching to an EV is that ‘the running costs of an EV are significantly cheaper than an ICE vehicle’, but how much cheaper is it really? Evidently this is something which is very hard to quantify. To add to this difficulty, electricity suppliers across Europe are building lucrative promotions to win more and more EV owner customers. Will the typical EV owner save money by switching to an EV tariff?
At Delta-EE we believe these are two questions which need some attention. So, in this blog – and in recognition of the inaugural World EV Day – I want to share the results from the EV team’s latest analysis – a deep dive into the costs of home EV charging across Europe.
Every week, our news feeds are loaded with new publications, partnerships and propositions targeting Europe’s electric fleet market. My most recent find was Elexent, a new venture from Groupe Renault creating “turnkey charging solutions for electric fleets” harnessing partners across the ecosystem (Schneider Electric, Alfen, SNEF, Izivia and Solstyce). It is a strong and complementary partnership with ambitions to grow beyond the French market.
Since 2018, Delta-EE’s EVs & Electricity Research Service has monitored these propositions and it is clear that the One Stop Shop, such as the example from Elexent, is becoming the preferred approach for early adopter fleets. In this blog, I would like to explore why this is the case. We will look at the needs of an early adopter in 2020, why the One Stop Shop makes sense but how that could soon evolve again.
There is little doubt that COVID-19 has been a difficult time for chargepoint operators (CPOs) - the majority of which are already making a loss. This is primarily due to the significant reduction in the utilisation rates of public chargepoints. In fact, according to Zap-Map, in the UK, there has been a 60% reduction of EV drivers using public chargepoints. The story will be similar across Europe with some expecting the industry to be in recovery mode until 2025. This paints a picture of doom and gloom for players involved in public charging.
But have us analysts been too quick to jump to negative conclusions? Is there actually light at the end of the tunnel for CPOs? Europe’s response to the COVID-19 crisis provides some reason for optimism and may result in the answer to these questions being ‘Yes’. By focusing first on a national level and then on an international level, I’ll explain why.
This time last year we talked about the energy industry being on the cusp of change.
Our general feeling was that the tipping point for new energy had come – and we think events in 2019, such as the rise of climate change protests (for example, Extinction Rebellion) and increasing adoption of Net Zero targets, have shown this to be true.
A recent study from Imperial College London, in partnership with UK energy company Drax Group, investigated the green credentials of different types of vehicles, to put to bed the question “are EVs genuinely better for the environment?”
It concluded that, yes, going electric is definitely a win for reducing emissions. However, the premium electric models coming to market today have a considerably greater carbon footprint than the electric models of the past. I want to explore this market development further; could it be that customer desire for range will actually drive up carbon emissions?
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