Why Smart Energy Management Is a Must for EVs and Your Business
As the population is becoming more conscious and gradually going green, so are the largest economic sectors.
More and more, they’re turning to sustainable practices and using renewable energy to keep up with the demand for eco-friendly products and services. And the leading position in this direction undeniably belongs to the electric vehicle (EV) market.
In recent years, we’ve witnessed a tremendous splash in EV sales, largely driven by the fact that electric car manufacturers improved the range, offered more models to choose from, and made vehicles more affordable to middle-class drivers.
By the end of this year, we expect that every fifth new car sold will be electric. On top of that, the global revenue for electric vehicles is projected to reach an amazing $786.2 billion, with steady growth expected over the next few years.
As businesses hop on the EV trend, it also becomes a necessity to embed smart energy management software.
In general, it can not only help companies use energy more wisely but also intelligently govern the chaos that can accompany the transition.
Why EVs Are Getting So Popular and What Are the Major Problems Associated with Their Adoption
Electric vehicles are becoming incredibly popular and even trendy, and there are a few big reasons why.
One of the major draws is their lower expenses. Though generally, electric cars are a bit pricier to buy, repair, and insure than ICE vehicles (as of today), the total expenses will be much lower in the long run, given the fact that electricity is cheaper than gasoline.
Plus, you can shrink some of those costs by using different tax incentives (transport fee, customs clearance, recycling fee), which can shave thousands off an EV’s price tag.
Another explanation is the environmental benefits. EVs produce zero tailpipe emissions, which allows companies to meet their obligation to the planet and draw buyers who sponsor exclusively greener initiatives.
Nonetheless, there are still some troubles that make it hard for businesses to fully plunge into EVs.
Another problem is that a lot of places don’t have enough charging spots. For businesses to really go for electric vehicles (EVs), they need easy access to charging. Without enough stations, it’s tough to run a fleet of electric cars.
People also worry a lot about battery life and how far they can go on a single charge. This feeling of running out of battery before they can recharge is called range anxiety.
Because of this, some businesses might hesitate to invest in electric vehicles, especially if they need to drive long distances.
On average, an electric vehicle (EV) battery loses about 2.3% of its charge each year. This means that after about 15 years, the battery will only hold 70% of its original charge.
Finally, as businesses add more electric cars to their fleets, they must keep track of their energy use.
If they don’t have a good plan for managing energy, they could end up spending more money than they expected, which might cancel out the savings they were aiming for.
What Is an Energy Management System in Electrical Vehicles
Now, what is smart energy management (SEM)? Simply put, it refers to using advanced developments and inventions to help companies use energy more wisely.
An EV energy management system usually contains several components. One of the main elements of SEM is the IoT. The Internet of Things is basically a combination of various devices, appliances, and detectors that accumulate details on energy use.
This data allows businesses to catch how much energy they’re consuming and find ways to diminish the leakage spots.
Another important constituent is Artificial Intelligence and Machine Learning. AI uses the collected data to forecast energy demands, refine usage, adjust the amount of energy used, and even tease the pressure on the power grid.
What Smart Energy Management Systems Can Do for EVs
Constant Monitoring to Control Energy Consumption
With SEM systems (SEMS), you can see how much energy the fleet is utilizing and how each vehicle is charging—all in real time. If one of the rides is suddenly using way more energy than normal, the system can instantly send a corresponding warning message.
Load Balancing to Protect the Grid
SEMS can do a great job of balancing energy loads, especially during peak terms. They can spread out charging across different vehicles and stations to deter overloads, redirect power for the cars that need it most, and protect the grid.
Proactive Maintenance to Reduce the Number of Fixes
One of the best things about SEMS is their ability to foreknow maintenance demands. By studying how vehicles are run, these systems can foretell when care is due. This way, you can plan repairs before anything breaks down.
Prompt Price Optimization to Regulate Expenses
Energy prices are quite fickle and change throughout the day. SEMS follow the energy price rates and automatically switch on charging during off-peak hours when it’s cheaper.
Better Grid Interaction to See the Holistic Picture of What’s Happening
Energy management systems can help you work better with the power grid. With vehicle-to-grid (V2G) technology, your electric vehicles can send power back to the grid when there’s a lot of demand and earn extra rewards.
Things to Pay Attention to When Implementing Electric Vehicle Energy Management System
If you’re thinking about setting up smart energy management software, that’s definitely great. Still, there are some things to keep in mind.
First, think over what you need for your charging setup. Check your current charging stations to see if they need improvements. You might need to add new stations with smart features or update the ones you have so they can connect with your management systems.
Next, focus on training and support. It’s necessary to teach your staff members how to use the new systems. They must know the best practices for energy management to get the best effects from the technology.
Don’t forget about security. Since smart energy management systems may collect sensitive details, you need to install appropriate security mechanisms. Making your records safe not only shields your business but also shows your customers you’ve got their back when it comes to their doings.
Lastly, if you intend to run the system for day-to-day use, you might need extra support with custom software development, integration, migration, or monitoring.
SCAND’s got your back to help you get the best out of your smart energy management platform or develop a brand new application for your specific conditions.
