A blinking light appeared on my car’s dashboard this week, alerting me of an oil change. Nothing drastic, but it got me thinking. If I owned an electric car, oil changes would not be necessary. Which made me wonder, when is the right time to go electric? And is there an alternative to battery operated electric vehicles such as hydrogen operated EV?
Last year when I was in the market for a car, I looked at both electric and gas-powered vehicles, but ended up going gas, because of lower pricing (even in the secondhand marketplace) and ease of refueling.
Of course, I expect when it comes time to replace my car in the next 5-8 years, I will be in the market for an electric rather than a gas car. I expect there will be more choice in the electric cars and that the charging time for batteries will be reduced along with more retail battery charging and hydrogen refueling stations.
Currently the US market has a limited offering for EVs, particularly in hydrogen fueled cars, with Toyota, Hyundai and Honda being the only manufacturers each selling one model of a hydrogen car. The use of hydrogen seems to be choice for companies using larger vehicles such as buses, trucks and even shipping vessels as it provides better mileage and can be easily stored but is very expensive
SMOKES AND MIRRORS
My choice to eventually go electric is as others with the view to reduce my carbon footprint but do we really achieve this if the electricity or hydrogen itself is generated by fossil fuels? Today, 95% of hydrogen is generated by fossil fuels highlighting the need to move to clean hydrogen. One way of creating clean hydrogen is to use an electrolyzer which splits water into oxygen and hydrogen. But the kicker is that the electrolyzer needs electricity to operate, so the electricity needs to be green too.
The question remains, can the current US infrastructure manage the increase in demand for electricity and hydrogen? And more importantly, can this demand be managed while ensuring we move towards generating clean electricity and hydrogen?
It makes sense that the recently passed infrastructure bill plans to invest a whopping $65 billion into upgrading the aging power grid along with adding more transmission lines. Transmission of clean energy is important because clean electricity can only be generated at the source. Therefore, many more transmission lines are needed to get the power to where it’s needed. Also $9 billion is earmarked for research to reduce the cost of making clean hydrogen, and for regional hydrogen manufacturing hubs.
“Never, ever argue with your trading system.” – Michael Covel, Author of The Complete TurtleTrader
As more companies and manufacturers move into the electric vehicle space, there will be an increase in organizations within the trading domain. For example, in September 2021, Tesla announced the launch of an energy trading team to support its battery and renewable power projects.
This is where we can help. At CTRMCloud we enable clients to be up and running on our system in a matter of weeks, providing a system pre-populated with industry standard setups and definitions ensuring business continuity for your organization.
We enable organizations to be agile and self-sufficient, whilst keeping TCO down. Is your interest piqued? Then let’s talk.