As more electric vehicles come on line, there will be increasing demands on the power grid. The International Energy Agency (IEA) predicts that the number of electric cars on the road will rise from 3.1 million in 2017 to 125 million in 2030. That’s a huge amount of cars vying for juice.
- The influx of EVs in the next decades will put a strain on the grid
- Using Oracle’s Analytics, utilities can manage power supply and avoid outages
- Analytics data can help customers know best times to plug in and save money
We’ve probably all encountered the situation on a blisteringly hot day when demand for aircon shut down the grid for a period of time because the system was overwhelmed. In about eleven years, the grid will have to service 40-times the amount of electric cars. A report by McKinsey estimated that EV’s could account for additional growth of 1-4% in peak load over the next few decades. That number jumps to 30% in urban areas with high rates of EV adoption.
Beware the surge
Without a planning system in place, this surge in usage could wreak havoc on power supplies. So what are utility companies with decentralized and outdated management systems supposed to do?
Oracle Utilities Analytics Insights to the rescue. This new program, already being tested by utility companies, taps into deep machine learning to identify the presence of an EV, show the time and frequency of charging and disaggregate the energy being consumed by the vehicle with advanced metering infrastructure (AMI) data. Utilities will then know the amount of power EVs are using, when, and for how long. From this data, they can plan energy distribution to power EVs at scale.
Customers can benefit with savings
In addition, the data can help utility companies map out the best time for customers to plug in, providing programs to educate and reward owners who charge during non-peak hours. Charging an EV bumps up typical household energy use by 15%, which can potentially double during peak demand times. Through these types of engagement programs, Oracle also sees an opportunity for utilities to buy-back energy from customers’ EV batteries to balance out any major swings.
The paradigm shift from combustion engines to electric motors necessitates not just a new infrastructure, but management systems to make it practical. Tools such as Oracle Utilities Analytics Insights will make the transition easier for both utilities and customers.