Planning ahead to meet the needs of our members and communities is taking exciting directions as we monitor and prepare for the growing adoption of Electric Vehicles (EVs).This clean energy trend has been somewhat quiet until recently. Now, predictions are for EVs to play a large role in the near future for several reasons. As the government increases emission standards, vehicle manufacturers are increasing investment in EVs and less in combustible engine vehicles. EVs also lower maintenance and operating costs appeal to consumers and range anxiety is improving as newer EV models can drive 200 miles or more on a single charge. Tax credits and manufacturer rebates are also helping drive down costs for consumers. You can check out a current listing of the many available on fueleconomy.gov.
Improving charging infrastructure is also aiding adoption. One contributing factor that can help that effort in the future is North Carolina’s share of the Volkswagen Settlement, a $92 million allocation that will be used to support EV adoption in a variety of ways. Blue Ridge Energy is involved in an effort to ensure some of the funding is used for areas served by electric cooperatives.
Doing our part for a smarter, cleaner environment is one reason your electric cooperative supports the EV trend. We’re also involved because it can help members in another way by helping keep your rates down.
Here’s how. Charging vehicles during off-peak periods can help manage your cooperative’s load demands, which in turn helps reduce the cost we pay for wholesale power. And that benefits members. Wholesale power we distribute to members is the largest expense of your cooperative. Anything that helps control wholesale power cost will benefit members with more stable rates for years to come. As electric vehicles grow in popularity, the value of encouraging charging in off-peak periods can be significant for members and your cooperative.
As we support the growing EV trend and find innovative ways to hold down your rates while providing cleaner reliable electricity, we hope you agree: we’re making life better in the Blue Ridge area!