NewEnergyNews: EV Growth Ready To Explode

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  • TODAY AT NewEnergyNews, June 20:

  • ORIGINAL REPORTING: The ideal time-of-use rate and why it matters
  • ORIGINAL REPORTING: The new demand response and the future of the power sector

    Thursday, August 10, 2017

    EV Growth Ready To Explode

    Electric car forecast predicts 21% market share by 2035

    James Osborne, August 10, 2017 (Chron)

    “Electric cars will be a regular feature of global roadways within the next two decades, far faster than many government forecasts predict…[Research firm Wood Mackenzie predicts that by 2035 there will be 350 million electric cars on the road - representing 21 percent of the total vehicles - as world governments seek to reduce carbon emissions to combat climate change…That is a far more bullish outlook than held by the U.S. government, which predicts that by 2040 electric vehicles will only represent 10 percent of total U.S. vehicle sales…Electric vehicles represent an existential threat to the oil industry, which accounts for close to 90 percent of the energy used by the transportation sector…A report by Bloomberg Energy Finance last month predicted that by 2040 electric vehicle sales would displace 8 million barrels a day of oil production - more than the total output of Saudi Arabia…” click here for more

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