There’s been a lot of talk about how electric cars might affect the electricity grid. Will they overload it? Drive up prices? A new study suggests the opposite might be happening.
This study looked at real-world data from 2011 to 2021 and found that electric vehicles are actually saving everyone money on their electricity bills – even people who don’t own an electric car!
Night owls win: Most people charge their electric cars at night when electricity demand is low. This helps the grid run more smoothly and keeps costs down for everyone.
Double win for EV owners: Not only are they helping the grid, but they’re also saving money compared to filling up a gas tank. Plus, the money they spend on charging goes to their local electric company, not an oil company.
Time of use deals: Some electricity plans offer discounts for charging at night. This again helps the grid and saves money for EV drivers who take advantage of these plans.
The study found that the benefits of electric vehicles for the grid actually outweigh the costs of setting up charging stations and other programs to encourage electric car use. And even though some states don’t require it, these savings are often passed on to customers through lower rates.
So, it seems like electric vehicles might be a win-win for everyone – they help the environment, save money for drivers (both electric and non-electric!), and even make the electricity grid run more efficiently.
