In a recent interview, recently retired IOC chairman B.
Ashok in an interview dismissed the EV threat as something way away in the
future, but the future may come knocking sooner than he thinks. India is the
first country to officially declare that it will move all electric vehicle
supply (EV) system by 2030 and this is no doubt a very tall claim by any
yardstick, but the oil and gas industry must take note of fresh . odeling
exercises that seem to show that India can come quite close to target by 2030.
The exercise answers the following questions:
How does the total vehicle ownership cost of EVs compare with the cost of conventional vehicles in India?
What is the additional load due to BEV charging in India?
What is the impact on power-sector investments, costs, and utility revenue?
How can smart EV charging help RE grid integration?
What is the impact on crude oil imports?
What is the impact on GHG emissions?
Dramatic new insights are available and they may be a cause for alarm for those who are adherent for a sharp increase in refining capacity.
The exercise answers the following questions:
How does the total vehicle ownership cost of EVs compare with the cost of conventional vehicles in India?
What is the additional load due to BEV charging in India?
What is the impact on power-sector investments, costs, and utility revenue?
How can smart EV charging help RE grid integration?
What is the impact on crude oil imports?
What is the impact on GHG emissions?
Dramatic new insights are available and they may be a cause for alarm for those who are adherent for a sharp increase in refining capacity.
EVs will be cheaper than conventional cars: By 2030,
the net electric owner’s benefit is more than Rs 9,200/yr as against a
conventional car. When the difference of only the annual fuel costs of conventional
vehicles and EVs is taken, it will work out to about Rs 20,000/yr. Between 2015
and 2030, the incremental capital cost of EVs over conventional vehicles is
expected to drop by over 60%–70%, eventually making EV owners switch from
conventional vehicles.
What is more, the load on the electricity grid will not be unmanageable at all, the exercise shows. By 2030, the all electric load will be only 3.3% of India’s total electricity load. The total peak BEV charging load is 23 GW, typically on weekends or holidays, which is about 6% of the total peak load by 2030 (402 GW). Smart charging and metering can take on the load with alacrity and will push renewable energy use, the projections show.
Find out more on what the projections are for crude imports and what kind of savings are possible on this front. Working backwards, how will refining capacities be hit by such a revolution or CNG supplies?
Analysts in oil companies will have their hands full figuring out how all these changes will impact the future of today's oil marketing companies.
What is more, the load on the electricity grid will not be unmanageable at all, the exercise shows. By 2030, the all electric load will be only 3.3% of India’s total electricity load. The total peak BEV charging load is 23 GW, typically on weekends or holidays, which is about 6% of the total peak load by 2030 (402 GW). Smart charging and metering can take on the load with alacrity and will push renewable energy use, the projections show.
Find out more on what the projections are for crude imports and what kind of savings are possible on this front. Working backwards, how will refining capacities be hit by such a revolution or CNG supplies?
Analysts in oil companies will have their hands full figuring out how all these changes will impact the future of today's oil marketing companies.
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