California's electrical grid has an EV problem

Yahoo Finance highlights key problems facing regulators, utilities and consumers as demand rises for EV automobiles.

The post cites a study from ICF predicting an increase in the number of EVs to more than 400 million globally by 2040, up from 7 million. These new vehicles will mean a 40% increase in electricity demand by 2050. All of this means a big change in the shape of demand power utilities experience—and it’s a change that may catch some jurisdictions flat-footed.

But this isn’t just a problem 10 or 20 years in the future. In California, officials predict a shortfall of nearly 1,700 megawatts, which could affect one to four million residents’ electrical service this summer. As California continues to lead the field in EV rollout, they’ll serve as an important example for other jurisdictions to watch.

The article also discusses the many challenges faced by areas experiencing a spike in EV demand but without renewable sources of energy to power those new vehicles.