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Gathering Data from EV Fleets – Critical to EV Profitability

 (Rick Sander, CTO, Tuesday, March 17, 2020)

Our last several blogs have explored the importance of collecting electric vehicles (EVs) fleet data to improve their profitability. This month, McKinsey and Company quantified the value of this data in a study called “Charging electric-vehicle fleets: How to seize the emerging opportunity” (March 2020). The study highlighted several important points about the size of the EV fleet market and related opportunities:

  • By 2030, 10%-15% of US vehicles (including fleet vehicles) will be EVs (a total of 8 million EVs).
  • Up to 13 million chargers will be required in the US to support these EVs (a $11B investment).
  • The EVs in fleets alone will consume up to 230 terawatt-hours of energy (6% of the power generated in the US today).
  • The batteries in these fleet EVs could provide 30 gigawatts of storage capacity (15%-20% of the projected power storage in the US in 2030).

It is estimated that time-of-use arbitrage – the purchase of off-peak power to be stored in fleet EV batteries, and then selling it back to the utilities during peak times, also known as vehicle to grid (V2G) – could yield a cost savings of $4.4B across the US fleet in 2030. But to achieve this, McKinsey cites three critical capabilities that these fleets (or energy management companies supporting these fleets) will need: i) hardware and software integration between vehicles and infrastructure; ii) the ability to gather and analyze data across the infrastructure; and iii) access to price signals in the energy market. These capabilities require robust data acquisition and processing in every infrastructure node.

As a leader in the development and manufacturing of bi-directional (V2G), high-power energy systems and EMS software, Rhombus is dedicated to helping our customers capture and make sense of their energy data. Our VectorStat® product allows customers to gather data from all of the nodes of your infrastructure, regardless of connectivity or network issues. VectorStat’s applet-based open architecture also enables the easy integration of new features and functionality, whether to support new hardware or to provide cutting-edge data analytics capabilities. Find out how we can help you by contacting us at sales@rhombusenergy.com.

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