Countries are signaling the end of gas-powered vehicles, with more than 14 countries and over 20 cities around the world proposing the ban of internal combustion engine (ICE) vehicles and buses powered by fossil fuels by 2030. The good news is that the electric vehicle (EV) market is already rapidly expanding; however, the number of fast-charging stations isn’t keeping pace.
The current electric grid infrastructure simply cannot keep up with rising electricity consumption from EVs. For example, to charge ten EVs simultaneously in ten minutes, it’d need to provide and be able to support electricity equivalent to powering a skyscraper or a small neighborhood.
Upgrading the existing infrastructure to meet this demand will be time consuming and expensive, and leveraging existing chemical-based (Li-ion) energy storage systems will utilize batteries that need to be replaced after three to four thousand cycles — frequent charging cycles shortens their lifespan and affects their degradation and depth of charge.