Solar Power, Electric Vehicle Segment, and Global Scenario
Although more and more automakers are starting to produce electric vehicles, and General Motors has announced that it will produce all-electric vehicles by 2035, the cost of electric vehicles is expected to fall significantly. However, the incentive gap between the total cost of ownership of electric two-wheelers and internal combustion engines is still large for most customers.
Many governments promote the adoption of electric vehicles as a step toward achieving decarbonization goals. For example, electric vehicles are indispensable to meet the European Union target of reducing CO2 emissions of heavy goods vehicles by 35 percent and from passenger vehicles and light commercial vehicles by 37.5 percent by 2030.
The market for electric vehicles in Indonesia is beginning to take hold, and a handful of manufacturers offering electric two-wheelers and utilities are starting to open charging stations.
Companies buying renewable energy have created a significant voluntary demand for new renewable energy projects around the world. Moreover, the growing sensitivity of various governments to the clean environment has increased the demand for zero-emission vehicles. Governments also use financial incentives to promote the adoption of electric vehicles, such as Norway’s exemption from VAT and the one-time purchase fee for consumers who purchase an electric vehicle.
Given that governments have not met their Paris Agreement targets, electric vehicles acting as voluntary buyers of renewable energy could stimulate an additional 105 GW of offshore wind and 145 GW of new solar capacity. Transmission charges and transmission losses, which represent a significant share (22-30%) of land and unit electricity prices, can be obtained from energy operators.
Extending incentives for renewable energy sources to electric vehicles could go a long way toward providing an integrated solution to decarbonize the electricity and transport sectors.
The energy costs of hybrid and plug-in electric vehicles are lower than comparable conventional vehicles, but the purchase price is higher. The use of renewable energy, such as solar and wind, can provide electricity without emitting carbon dioxide, but it depends on cost-effective technologies that can improve and reduce costs at peak times per kilowatt-hour of the source. Bank fees and their criteria vary from state to state in India, ranging from 2% to 10% of the electricity fed into the grid by renewable energy producers and deducted from consumers.
Despite governments’ “encouragement to use wind and solar technology, their “per kW hour” costs are in the same league, increasing the cost of fossil-fuel technologies and the likely CO2 emissions they generate. Wind turbines have been developed in recent decades, and solar photovoltaic technologies are more efficient, improving the prospects of harnessing energy from tides and waves. Solar thermal technologies, in particular heat storage, have great potential in sunny climates.
Solar Power, Electric Vehicle Segment, and India
In India, solar power consumers enjoy greater security of energy by regulating the cost of solar power for a 25-year period and protecting against fluctuations in grid electricity prices linked to the cost of fossil fuels. It is no coincidence that India is the cheapest producer of solar energy and a success story of the effective Public-Private Partnership model (PPP).
India’s path to becoming the world’s fifth-largest solar panel manufacturer has been made possible by aggressive targets, policy implementation, and streamlining efforts. In fact, as we have seen, SECI has played an important role in helping state and federal governments contribute to the accelerated growth of the solar industry.
Electricity in a state is subject to a stable government policy that is crucial to accelerating adoption. The government has launched the Go Electric campaign from 2021 to encourage the roll-out of electric vehicles and cooking appliances to ensure the country’s energy security. Road and Motorways Minister Nitin Gadkari, who launched the campaign, said: “Go Electric is the future and the government will promote low-cost, environmentally friendly, and indigenous electric products.
Solar Power, Electric Vehicle Segment, and Indian Ministry
Minister of Roads, Transport and Motorways Nitin Gadkari expressed concern about the enormous cost of importing fossil fuels and stated that CO2 emissions from transport vehicles are a major challenge.
The minister is confident that India will become the #1 hub of electric bus, car, and two-wheeler production within five years. India has one of the lowest penetration rates of vehicles among major economies and a unique opportunity to establish a sustainable electrified transportation system. It is expected that the growing demand for CO2 emission reductions and the development of advanced fast-charging stations will drive the growth of electric vehicles.
The market for electric vehicles is experiencing rapid development due to the ongoing developments in the automotive sector.
In the last decade, a variety of incentives for electric vehicles have helped spur the large expansion of electric cars in key markets. Effective government policies and subsidies, grants, tax breaks, and other non-financial benefits. Car-pooling, lanes, increased vehicle range, improved availability of charging infrastructure, and proactive participation by automakers have driven global sales of electric vehicles.
This has been achieved through differentiated taxation of vehicles and fuels on the basis of their environmental performance and through increased regulatory measures that allow the clean car industry to prosper. In the short term, efforts should focus on making electric vehicles more competitive by phasing out purchase subsidies as sales increase.
However, in the long run, realizing the full potential of electric vehicles to reduce vehicle emissions will require the integration of electric vehicles into the electricity system by decarbonizing power generation, building charging infrastructure, and generating sustainable batteries.
The electric vehicle industry has so far focused on further improving efficiency, lowering the cost of electric vehicles, and building public charging infrastructure in the growing market. However, the main remaining focus, to which the industry has paid little attention, is the power source used to power electric vehicles.
Solar Power, Electric Vehicle Segment, and Green Ripples Pvt. Ltd.
India has significant opportunities to accelerate growth while controlling the carbon intensity of its development path. Green Ripples strategizes to contribute to achieving this by harnessing the substantial synergies between low carbon and economic performance through developing the renewable footprint of the country, enhancing end-use energy efficiency in various sectors, and accelerating the adoption of new & innovative clean technologies.
The low-carbon strategy of Green Ripples will contribute towards energy security of the country; increased rural access through distributed renewable applications and cleaner air in cities and homes. In short, a low-carbon growth strategy could be an opportunity to improve health, productivity, and quality of life, particularly for the most vulnerable populations.
Established in 2011, GREEN RIPPLES Private Limited has a National level network with a strategic presence in Northern, Southern & Central India. Green Ripples Private Limited is an accredited channel partner with the Ministry of New & Renewable Energy Sources (MNRE), Government of India for the solar photovoltaic sector both for off-grid systems as well as grid-connected systems.
Green Ripples is also registered/affiliated with Chhattisgarh Renewable Energy Development Agency Chhattisgarh, Rajasthan Renewable Energy Corporation Ltd Rajasthan, C-DIT Kerala, and Punjab Energy Development Agency Punjab.
The company is registered in the State of Chhattisgarh under the Companies Act 1956 and has Corporate Office in Delhi, and Project Offices in Raipur, Bhilwara & Bangalore.
The Company has been set up with the objective to be the most reputed and ethical player in the low carbon economy business and Provide cost-effective solutions to the customers through renewable energy, innovative technologies, and energy efficiency. The company is a complete turnkey solution provider in the Solar Photovoltaic sector. GRPL is a leading player in the off-grid solar power sector in Central India. The Company was founded by the Promoters with years of experience in the alternative energy industry and bring their rich expertise into the company.
In an interview, the Director & MD Mr. Rajeev Sood from Green Ripples told that the demand for solar is continuously increasing and a lot of efforts are also been made by the Ministry of Road and Transport in association with MNRE. The Director and CEO Mr. Vinay Gopalan told that Green Ripples is also providing solutions to EV Charger Installers for Solar Power solutions to reduce carbon footprints.
Mr. Bhaskar Verma (CFO, Green Ripples) added that they also provide funding to such installers who intend to install High Capacity DC Chargers. Green Ripples had always been a supporter of clean energy and a promoter of direct usage of energy as the conversion losses are also huge while we convert Solar DC to AC and again to DC for Electric Vehicle Charging.
Although electric cars emit less carbon dioxide, ozone, and fine dust than their combustion engines predecessors, they still draw electricity from the grid, which is largely powered by coal, according to research by the Union of Concerned Scientists.
Plug-in hybrid electric vehicles (PHEVs) and electric vehicles (EVs), also known as battery electric vehicles (BEVs) are powered by electricity in the United States from natural gas, coal, nuclear, wind, hydro and solar. Multiple fuel sources can be used to generate electricity, which means that securing and generating energy sources can electrify part of the transport sector.
Hybrid electric vehicles (HEVs) consume less fuel than comparable conventional vehicles because they use electric propulsion technology to increase vehicle efficiency and capture regenerative braking energy lost during braking.
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