Mass adoption of electric vehicles over the next 10 years is almost a certainty. Government targets of 6,000 electric vehicles by 2012 and 10% of the national fleet by 2020 have been set. However if we are to get electric cars into our driveways, certain basic issues still need to be addressed. These include convincing purchasers that the residual value of their electric car will not be markedly different from that of internal combustion engine cars, that there will be no delay in deploying reliable fast charging infrastructure and providing a reinforced national grid that can support the new demand peaks that mass adoption of electric vehicles will bring.
Incentivising the roll out of electric vehicles should not be considered in isolation. The transport sector is responsible for about 25% of EU CO2 emissions. So, harnessing energy from renewable sources to power electric cars has the potential to significantly reduce our transport emissions and underpin demand for indigenous secure clean energy. This logical symbiotic relationship between electrified transport and renewable electricity generation requires that the continued deployment and incentivisation of both be considered together and structured to support each other.
The deliberate linking of supports for both electric vehicles (demand side) and renewable generation (supply side) will incentivise players from the auto industry and energy sector, together with their financiers and advisors, to develop new products and solutions that will encourage consumers to switch to zero and low emissions vehicles. Linked supports have the potential to deliver greater returns for the public, by more effectively incentivising carbon reduction in power generation and transport. Creating electricity demand that can more readily flex to the intermittent output of wind generation is critical in light of our 2020 targets. Co-ordinated supports and the resulting new products and solutions have real potential to reinvigorate the on-shore and kick-start the off-shore wind generation sector in Ireland.
Mass adoption of electric vehicles will reshape global demand for oil, coal and gas, will transform the energy utilities and the auto makers and will provide a significant catalyst for renewable generation.
Back to Legal News
