High-level Meeting in Luxembourg Takes Electromobility to Next Level
12 Nov 2019
Optimization of electromobility processes through dynamic pricing and digital technologies
In October 2019 Supported by IRENA Luxeburg organized a pentalateral conference "Closing the loop between Energy and Transport" which for the first time ever gathered key stakeholders from all sectors involved such as car manufacturers, electricity market players, and e-mobility actors. Energy and transport ministers, government representatives from the pentalateral region, CEOs and experts discussed strategies to accelerate the energy transition through electromobility. The attendees discussed electromobility in view of energy sector transition, so-called smart charging. IRENA’s recent report "Innovation Outlook: Smart charging for electric vehicles" illustrates how an uncontrolled charging of EVs may exacerbate stress on distribution grids, resulting in large investment needs to reinforce the local grids. Adapting charging by dynamic pricing and digital technologies can reduce the investment needs for the uptake of EVs between 40 to 90 percent, the report shows. Furthermore, the benefits of so-called “batteries on wheels” can be maximized.
By 2025, the car battery electricity storage capacity on the road may equal more than a third of the hourly nameplate generation capacity in pentalateral region.