The Importance of Energy Storage for Electric Vehicles

Here on The Swell, we’ve covered many reasons why energy storage, especially in the form of home batteries, is a key part of the future of energy. We’re here to talk about yet another reason why we need energy storage, and we need it now: Electric Vehicles.

Now, energy storage isn’t key to the EV equation because there is something wrong with electric vehicles. Quite the opposite. We need energy storage because everything in the electric vehicle market is going really, really well… and it’s stressing out the power grid.

The World Economic Forum has confirmed the good news about EVs: battery-run vehicles could slash travel costs in cities AND put a huge dent in emissions. Electric vehicle production is up, battery costs are down, and many major automobile manufacturers have announced that EVs will be a huge part of their inventory in the future.

However, our power infrastructure isn’t quite as quick to change. The necessary setup for charging electric vehicles simply has not been put in place yet, and charging EVs could create serious constraints on local power networks.

The WEF, along with Bain & Company, emphasizes the importance of considering electric vehicle charging as a legitimate factor in planning future infrastructure projects. Marina Lombardi, WEF’s grid edge transformation project lead, notes that:

"Our focus was on electrification and how to deploy it, combining the new trends in the energy and mobility systems, so that benefits for cities and citizens would be maximized." She highlighted that one major barrier stands in the way:
"Policy intervention is needed to set the proper conditions for the market forces to work."

Change in policy is a necessary step to transforming the way we interact with energy. Fortunately, there’s a simple step EV owners can take right now to ensure that they’re not relying on an unreliable power system to charge their vehicles.

EV Owners Can Start an Energy Storage Revolution in Their Own Garage

Let’s take a minute and talk about Tesla. Tesla is known for electric vehicles, and they have also risen as a name in both the energy generation and storage markets. Tesla’s newest products include the Model S electric vehicle, the Powerwall 2 home battery, and the revolutionary Solar Roof.

Musk calls it the "Triple Play." Home batteries give electric vehicle owners a significant advantage, while solar photovoltaics provide even more benefits.

The Connection Between Electric Vehicles and Home Batteries

Home batteries provide a clean, reliable, and secure way for electric vehicle owners to charge their cars at the end of the day. This is made possible by time-of-use shifting, which allows home battery owners to charge up with cleaner, cheaper grid energy during the day, then use this energy to charge their EVs in the evening.

Time-of-use shifting is a game-changing method to charging your electric car. Most electric car owners charge their vehicles in the evenings, during peak demand hours, making it expensive.

The Role of Solar Photovoltaics

Solar panels, like those in Tesla’s solar roof, can charge a home battery using sunlight. This comes with several notable advantages:

• It’s clean: The sun provides clean, renewable energy daily.
• It’s free: Solar energy doesn't cost anything, unlike the grid.
• It’s reliable: The solar power supply is not subject to the same disruptions as the electric power grid.

Home battery customers with solar panels gain an economic edge, especially for charging electric vehicles. After the initial investment in solar panels and a home battery, the electricity used to charge EVs could be nearly free, allowing the home battery to pay for itself over time.

It doesn’t matter whether your electric vehicle is a Tesla, or if your home battery or solar panels are produced by another company. Tesla’s "Triple Play" applies to anyone who wants to take advantage of time-of-use shifting to charge their electric vehicle.

Swell believes that solar energy storage can be a key component to clean, sustainable, and financially responsible living. If you’re curious about how a home battery can reliably charge your car and save you money, contact a representative.