BloombergNEF: Electric Vehicles = 58% of New Car Sales by 2040
Oil prices are down but that won’t necessarily give gasmobiles a COVID-19 recovery edge against electric vehicle sales, energy storage, and clean power.
Oil prices are down but that won’t necessarily give gasmobiles a COVID-19 recovery edge against electric vehicle sales, energy storage, and clean power.
One of the most interesting and most challenging things in my career in cleantech media in the past decade has been communicating technology transitions. It is simply so difficult for us humans to deeply comprehend (or “digest”) the arc of the trends as they are occurring. Even a rapid market transition seems like it is going very slowly (“taking forever”) until it happens all of a sudden.
As you may have seen by now, 7 year Tesla insider David Havasi and I have been getting together in recent months to talk about the deep history of Tesla from an insider (David) and outsider (me) perspective in a podcast and video chat series called Tesla Inside Out. The thing that triggered this chat was recent data from BloombergNEF showing that battery energy density has nearly tripled in the past decade.
BloombergNEF’s Colin McKerracher took to the stage at the BNEF Summit in San Francisco last week where he made a case for electric vehicles reaching the “end of the beginning.” The case for electric vehicles moving into the mainstream or out of the early adopter stage of growth has been fueled by the increase in energy density in lithium-ion batteries and the corresponding drop in cost that comes along with it.
Natural gas pushed out coal and upset the US energy apple cart between 2010 and 2019, but now the change-making shoe is on the clean tech foot.
The new Sustainable Energy in America Factbook sets the stage for renewable energy to leapfrog over natural gas and leave coal far behind in the dust.