| From: Eric | 3/30/2023 8:00:56 AM | | | | | | J.D. Power: EV price pressure grows as government incentives and lease deals wield outsized influence on consumer demand
30 March 2023
Due to a steady increase in availability of new models, expanded price mix within existing models and widening eligibility of federal and state incentives, acquisition cost is starting to fade as a hurdle to EV adoption, according to J.D. Power.
According to the J.D. Power EV Index ( earlier post), a new, advanced analytics tool that tracks the progress to parity of EVs with internal combustion engine (ICE) vehicles in the United States, this steady decline in price mixed with surging availability is setting the stage for a new era of EV price wars.
Total EV market share has now reached 8.5%, nearly double the share of a year ago. The trend is consistent with steady growth in availability and affordability. The J.D. Power EV Index score for availability climbed sharply to 39.4 (on a 100-point scale) in January 2023 from 35 in December 2022, meaning approximately four-in-ten new vehicle shoppers currently have a viable alternative to ICE vehicles.
Overall affordability has also improved by a similar margin, rising to 85.6 in January. Once the overall affordability index reaches 100, EVs will have reached price parity with their internal combustion engine (ICE) counterparts.
At the current trajectory, J.D. Power projects that approximately half of all vehicle shoppers nationwide will have a viable EV option available to them by the end of 2023. By the end of 2026, that number is expected to surpass 75%.
The strong influence of consumer price sensitivity on EV consideration and adoption is on vivid display across several data points in this month’s J.D. Power EV Index. The first evidence can be seen in consumer interest in the Ford Mustang Mach-E and the Tesla Model Y following the reclassification of both vehicles as SUVs, which made them eligible for a $7,500 federal tax credit under the Inflation Reduction Act. Additionally, both manufacturers recently announced significant price cuts on both models.
Consumers responded immediately with a 3.4 percentage point increase in consideration in the Mustang Mach-E and a 1.6 percentage point increase in consideration in the Model Y.
J.D. Power finds a clear correlation between the states with biggest government incentives and consumer EV adoption rates. In California, for example, which currently has an adoption score of 45 (highest in the nation), state tax credits on the purchase or lease of a new EV is $2,000 for cars and $4,500 for trucks, SUVs and vans. Similarly, Oregon, which has an adoption score of 36, currently offers a $2,500 credit on EVs with a retail price at or below $50,000 and a $5,000 credit for EVs that meet certain battery size requirements, making many EV drivers in Oregon eligible for upwards of $7,500 in state rebates. J.D. Power sees similar trends in Colorado, New York and New Jersey where state-level EV incentives have had a significant influence on adoption.
The culmination of these trends taken together is a steady downward pressure on the price of EVs relative to their ICE counterparts. This is a significant turning point from the early days in the EV marketplace when the few viable models available were priced above $100,000. Now, due to federal incentives introduced in the Inflation Reduction Act and growing vehicle supply, prices of many models are trending lower.
The best examples of this trend are the Chevrolet Bolt and Bolt EUV. With incentives, the total cost of ownership of a new Bolt is now just $26,200, down $6,600 from December of last year. Likewise, the Bolt EUV has seen its total cost of ownership fall to $30,900. As this trend continues, J.D. Power says it expects to see continued pricing pressure on new models driving increased competition in the EV market.
Posted on 30 March 2023 in Behavior, Electric (Battery), Market Background
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| From: Eric | 3/30/2023 8:09:57 AM | | | | | | Two EVs at Plymouth State University delivered 1 MWh over 6 months with Fermata Energy bidirectional charging platform
29 March 2023
Two Nissan LEAF electric vehicles (EVs) at the Plymouth State University (PSU) provided 1 MWh of energy to the PSU’s ALLWell Center, offsetting some of the building’s electricity needs, over a six-month period.
The university is taking part in an utility rate program developed by its local utility New Hampshire Electric Cooperative (NHEC), electrification software provider Bellawatt, and Fermata Energy.
The program at PSU brings together EVs, a bidirectional EV charging system, and advance notice on hourly electricity pricing—called a Transactive Energy Rate (TER)—enabling the university to make decisions easily about using the Nissan LEAF batteries as mobile energy storage assets.
Under the program, PSU sent energy stored in the EVs’ onboard batteries to offset the ALLWell Center’s building load for approximately 90 hours during a 6-month period.
Through the NHEC application, TER forecasts electricity pricing one day in advance. Daily alerts about the next day’s hour-by-hour electricity prices are sent by NHEC to Fermata Energy’s AI-powered bidirectional charging platform, which then analyzes those rates, simplifies the information, and advises PSU about times the vehicles can discharge the batteries to maximize value for the university. The university controls whether to discharge by parking the EVs and plugging them into the Fermata Energy bidirectional charger.
The day-ahead electricity pricing enables PSU to buy electricity from the New Hampshire Electric Cooperative at low prices and store that energy in the EV batteries. When the price of electricity is higher, PSU can then discharge the batteries and sell the energy back to NHEC. This is known as electricity arbitrage. The successful outcome of this hourly electricity pricing program creates a pathway for NHEC to compensate its members for power exported from Distributed Energy Resources, such as EV batteries and solar.
The Nissan LEAF is one of the few EVs currently on the road and able to participate in bidirectional charging. Fermata Energy’s bidirectional charging platform manages the EV’s state of charge, sends alerts to customers, and allows fleet owners to both charge and discharge EV batteries.
Until recently, commercial fleet EV operators could only use unidirectional chargers, meaning the power went from the grid to the EV, costing the EV owner money. Unidirectional charging is also an unpredictable electricity demand that utilities need to manage and plan for. Bidirectional charging changes that dynamic.
Fermata Energy’s platform can also monitor building load data, helping to manage electricity usage better. Fermata Energy has V2X bidirectional programs working in several New England utilities, including Green Mountain Power, Eversource, and Rhode Island Energy. These programs have proven effective at offsetting surging customer demand by dispatching power from customer-owned batteries.
Posted on 29 March 2023 in Electric (Battery), Market Background, V2X
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My comments:
The very first Tesla "big battery" in Australia has been doing this for years. It paid for itself in just a few years and is now a cash machine for the company that owns it. |
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| From: Eric | 3/30/2023 8:16:11 AM | | | | | | South Carolina to deploy 160 Proterra Powered electric school buses from Thomas Built Buses over the next year
30 March 2023
The South Carolina Department of Education will deploy 160 Thomas Built Buses (TBB) electric school buses in school districts across the state over the next year, under a new procurement finalized this month between the Department of Education and Thomas Built Buses dealer Interstate Transportation.
The Department of Education’s purchase of 160 new Proterra Powered Saf-T-Liner C2 Jouley electric school buses represents the single largest order of electric school buses funded entirely by the EPA’s new Clean School Bus Program to date.
Thomas Built Buses and Proterra offer school bus operators a comprehensive, turn-key electric vehicle program that includes EV planning and funding consultation, electric school buses, charging systems, and charging infrastructure design and installation.
The Saf-T-Liner C2 Jouley couples 226 kWh of onboard energy from Proterra Powered’s battery technology to offer up to 135 miles of drive range to meet the needs of school bus fleets. With more than 300 TBB Proterra Powered electric school buses on the road, Saf-T-Liner C2 Jouley electric school buses have driven more than one million miles for school districts across North America.
Thomas Built Buses is currently the only school bus manufacturer to offer DC fast charging architecture as standard equipment. The Jouley can charge in about three hours and can supply power back to the grid using vehicle-to-grid (V2G) technology.
Posted on 30 March 2023 in Bus, Electric (Battery)
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| From: Eric | 3/30/2023 8:34:46 AM | | | | | | Used Electric Vehicle Searches Shot Up 145% In February On Cars.com
Meanwhile, searches for new and used EVs (combined) have increased by 84 percent last month compared to February 2022.
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| To: gg cox who wrote (12694) | 3/30/2023 10:47:19 AM | | From: Cogito Ergo Sum | | | | Where does the electricity come from :) I drive a reach and order picker,, well actually I am licensed on 5 machines (IOW all machines :))
electricity does not come magically at no cost... la Baie James is a bad example |
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| To: gg cox who wrote (12711) | 3/30/2023 12:13:44 PM | | From: Cogito Ergo Sum | | | | That is why I bought the Colorado 6cyl.. only tow occasionally .. rest (MOST) of the time I am chuckling at the Silverados, Rams and F150s :) Then of course much of summer is on the Harley .. but in truth .. considering I use premium for the bike like my garden 2 stroke Stihl tools.. The Harley costs more to run that the Colorado :).. but it is so much FUN!!!!
2 wheels cheap.. 4 wheels cheaper LOL (apologies to George ;) |
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| From: Eric | 3/30/2023 2:44:38 PM | | | | | | J.D. Power and Motorq collaborate to measure real world EV battery health
30 March 2023
J.D. Power and Motorq, a leading connected vehicle analytics and infrastructure company, have announced a strategic alliance to provide the automotive industry with insights based on connected vehicle data. The first product from the alliance will measure real-world electric vehicle (EV) battery health.
Using data provided by the vehicle itself, in close collaboration with the manufacturers, J.D. Power and Motorq will provide EV owners and potential buyers with an independent measurement of the health of that vehicle’s EV battery, compared with its stated health when new. Individual vehicles that achieve a pre-specified score will receive a J.D. Power validation that will give potential buyers confidence in the health of the EV battery.
EV shoppers have concerns about range and battery longevity. For used EVs, the range can be affected by a number of factors including how the vehicle has been driven and charged, and the temperature where it is being operated. By measuring the precise state of health of an individual EV battery over time, J.D. Power and Motorq will provide transparency into an area where it is difficult for the consumer to make their own assessment. This information will give used EV shoppers greater confidence that they are buying a high-quality vehicle at a fair price.
—Dave Sargent, vice president and head of connected vehicles at J.D. Power
The most useful way of measuring the health of an EV battery is to see how it performs in the real world. We have developed a capability that leverages thousands of data points a day from each vehicle, takes account of different operating conditions and provides a normalized assessment of the true health of each individual vehicle’s battery.
—Arun Rajagopalan, co-founder and CEO of Motorq
J.D. Power and Motorq will use thousands of measurements taken from the vehicle over time to assess how an individual EV battery is performing. The two companies are in active discussions with vehicle manufacturers and other industry participants to bring empirical EV battery health to the marketplace.
Motorq partners with the 12 largest global auto manufacturers to ingest and analyze real-time data from vehicles, and create business value for nine of the top 10 fleet management companies, automotive service companies, and the world’s largest sales, service and rental fleets.
The Motorq Platform normalizes and analyze billions of data points to power our portals, streams, APIs and products such as Fuel EKG, Driver Safety Scorecard, and Electric Vehicle battery health and home charging reimbursement.
Posted on 30 March 2023 in Batteries, Connected vehicles, Electric (Battery)
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