- The global electric vehicle fleet will rise to between 140-240mn cars by 2030, resulting in over 7TW of battery capacity
- The growth of the EV industry as well as the rise in renewable power sources has led to rising interest in vehicle-to-grid technology
- Vehicle-to-grid technology allows for an electric vehicle to engage in bidirectional charging, effectively allowing a vehicle to drive excess power back into the grid
- Through their revolutionary enhanced powertrain solution, Hillcrest Energy Technologies are seeking to pioneer the way towards efficient bidirectional charging
The global electric vehicle population is set to swell to between 140 and 240 million electric battery-powered vehicles by 2030; in effect, it means we will have at least 140 million energy storage devices on wheels with an aggregated storage capacity of 7TWh (terawatt hours) on the road over the course of the next decade (https://ibn.fm/QtuHz). To put that into perspective, a global electric vehicle fleet of 140 million vehicles would effectively be able to power the United States’ annual electricity consumption twice over on a single charge. By some estimates, it could lead electricity consumption to rise by as much as 38 percent within the U.S. by 2050, a phenomenon that has thrust the vehicle-to-grid technology sector into the global spotlight.
Vehicle-to-grid technology enables energy to be pushed back to the power grid from the battery of an electric car; with electric vehicle-to-grid technology – also known as car-to-grid – a car battery can be charged and discharged based on different signals, such as energy production or…
NOTE TO INVESTORS: The latest news and updates relating to HLRTF are available in the company’s newsroom at https://ibn.fm/HLRTF
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