Europe could cut EV grid bill by 40% with smart charging, study says - TimesLIVE

Europe’s cities need almost €25bn (R464.54bn) of investment in charging infrastructure to cater for the growth of electric vehicles by 2030 but could cut the bill by 40% through smart charging, according to a study released on Tuesday.

The study conducted by Siemens forecasts the number of EVs will grow on average by 3.8 times in 64 cities analysed across the 27 EU countries, along with Iceland, Liechtenstein and Norway, leading to a €24.7bn (R458.84bn) bill for electricity distribution grid investment.

The study said that smart meters to allow charging when existing electricity demand is the lowest, such as in the middle of the night, could ultimately cut the overall investment bill by €10.6bn (R197.06bn).

The paper said that a European Commission proposal to promote predictable and cheaper off-peak prices across the bloc could help consumers shift.

The study for European EV charging industry association ChargeUp, car manufacturers group ACEA and partnering group EIT Urban Mobility found that the greatest investment need was for low-voltage grid investments, allowing slower charging such as at homes or workplaces.

The investment requirement would also be highest in Germany, followed by countries already with significant EV fleets, namely Norway, Belgium and the Netherlands. EV uptake would grow fastest in Eastern Europe, the study said, but from a lower base.