Increasing affordability, innovative technology, government incentives, and climate forecasts all point to an electric vehicle (EV) future. It is essential that this transition is equitable and we ensure everyone can afford to be a part of this shift. Luckily, we can help more people share in the delights of EV ownership by lowering the cost of charging through innovative, power optimizing systems. Variablegrid is a company that makes this their mission; making the EV world more affordable and inclusive through their adaptive power technology.Â
Is EV really more affordable?
The world has responded to the imperative need for swift and equitable change in the transportation industry. Various shifts have enabled an increasingly accessible and affordable EV landscape.Â
Over the past decade, the cost of electricity from renewables has dropped 50-85%, with International Renewable Energy Agency projections indicating further declines (IRENA). Additionally, renewables are starting to outperform coal plants on their operating costs, and prices are declining due to advancements in battery technology, which is the most expensive component of electric vehicles (NRDC).
As gas prices continue to rise, the benefit of home charging will become clearer. In 2020, it was established that EV drivers spend about 60% less on fuel each year compared to internal combustion engine (ICE) vehicle drivers (Consumer Reports). Not to mention, due to them having significantly less parts, EV’s are estimated to require half the lifetime maintenance costs of ICE vehicles.Â
How are we contributing?
Adding to the affordability of EV is Variablegrid’s smart charging technology. Regardless of a building’s apparent electrical limitations, Variablegrid’s technology allows for smarter utilization of available power, enabling more people to install private chargers and transition to EVs. Our patented Dynamic Load Balancing capabilities enable modulated EV charging to maximize electrification; saving homeowners between $6,000-$35,000 and multi-unit residential buildings hundreds of thousands of dollars in electrical infrastructure costs (Energy Star).Â
With these new advancements, the days when low electrical capacity limited people’s ability to install private chargers are coming to an end. This is vital for homeowners, especially those in multi-unit residential buildings, as it ensures their vehicle choices are no longer restricted by shared power constraints.Â
Aiming to create equitable and inclusive charging solutions for everyone, Variablegrid’s technology removes the need for costly electrical infrastructure upgrades. By reducing the costs associated with installing private vehicle chargers, we can ensure no one is left behind in the transition to sustainable energy.
By Danielle Shefley