Electricity Consumption in US to Skyrocket
Electric vehicles are becoming mainstream. The proof is in the pudding-er…pavement. First, Tesla reported their first profitable quarter in 2 years. Second, China wants 100% of national auto sales to be electric by 2030. Third, sustainable energy solutions will soon be more efficient than dirty alternatives. Consequently, global electricity consumption is destined to skyrocket.
However, this will take time. When it comes to the US, just over 2% of auto sales are electric. This lags behind China but is on par with Europe. Coupled with Smartphone, wind and solar farm adoption, and the onset of electric self-driving vehicles, electricity grids face massive strain.
Furthermore, this is nothing compared to what’s coming. A study from TheConversation.Com investigated the matter. Both from a regional and national context, can America power its rapidly growing EV fleet?
Modernizing a National Charging Grid
Using methods from a hydrogen vehicle survey, they assessed how much each state’s energy infrastructure needs to grow. Leading the pack are Maine (55%), New Hampshire (53%) and California (47%). Meanwhile, Wyoming (17%), West Virginia (22%) and Louisiana (21%) require the least growth.
However, this approach doesn’t take into account 2 future factors. First, self-driving vehicle adoption. Second, the popularity of ride-share services like Uber. The study goes on to state that Texas would need 110 more terawatt-hours of electricity if it went 100% EVs. Similarly, California would need 50% more because of its massive population.
Currently, most electricity consumption comes from air conditioners and heaters. Because there’s little no for both in many states, their infrastructures lack the capacity to meet future charging demands.
American EVs & Lithium-Ion Batteries
Like it or not, electric vehicles will soon dominate the world’s roads. However, this change relies heavily on tech advances. Adoption will lag if infrastructure fails to quickly update.
Consequently, China has a distinct advantage in this era of green revolution. Its centrally-planned economy has both the motivation and the means to quickly modernize its infrastructure. Meanwhile, western countries must rely on policy and private investment for meaningful change.
Moreover, the resource behind such change is scarce. Lithium-ion batteries power global commerce. However, mining and exploration projects fail to meet global demand. If the US is to increase its electricity consumption, it must secure the future’s most valuable resource.
Ultra Lithium Inc. A team of lithium experts with a finger on the pulse of clean energy news, Ultra Lithium is a lithium exploration company with holdings in Argentina, Canada and the US (TSX-V: ULI, OTCQB: ULTXF and Frankfurt: QFB).