From the rise of electric vehicles and the required rollout of electric vehicle infrastructure, to the opportunity to bundle energy products that integrate vehicle charging with energy consumption at home, the future of mobility is set to have a significant impact on the energy & natural resources sectors.
Click on the sections below to understand how emerging mobility trends could impact the energy & natural resources in the near and medium-term future.
Deployment of electric vehicle (EV) and infrastructure: Supporting the mobility transition will increasingly require the participation of power and utilities providers, particularly in the form of partnerships.
Bundled energy products and partnerships: Bundled energy products and partnership opportunities will emerge as EV consumption becomes increasingly integrated with energy consumption in the home.
Electrification of fleets: For commercial and corporate fleets, the benefits of electrification are more obvious than for private consumers, particularly given emissions regulation and Ultra Low Emission Zones. We see huge potential for the electrification of UK fleets and the provision of charging equipment for urban use cases.
Shift in how forecourts are used: As the proportion of fleets that is electrified increases, petrol forecourts are expected to face declining fuel sales. Many energy companies are now investing in rapid-charging equipment both to enter the EV charging market and to offset potentially declining hydrocarbon revenue streams.
However, it is not yet known whether future consumers will follow the same refuelling patterns as internal combustion engine vehicles or instead prefer to charge at home or other locations.
Partnerships with OEMs/CPOs: With several big-ticket purchases in the news over the past few years, we see significant scope for collaboration between energy companies, chargepoint operators and OEMs, who all have stakes in expanding the network of charging infrastructure in the UK.
EV battery storage and vehicle-to-grid (V2G) to smooth out load profiles: Reshaping of the power load curve due to EV uptake will present opportunities to provide new services as demand for power balancing increases. This may include testing and trialling vehicle-to-grid (V2G) applications.
Smart EV charging and chargepoints: As local electricity demand increases due to the rise of electric vehicles, it will be important to have smart charging capabilities (the ability to monitor and control charging speeds automatically or remotely) to prevent local distribution pinch points from developing.
The UK EV/AV bill introduces requirements for smart capabilities in public chargepoints and is a stepping stone to introducing these across the UK.
Alternatively fuelled heavy goods vehicles: While EV technology is relatively proven for passenger cars, the size of the battery required for heavy goods vehicles (HGV) that travel longer distances has significant cost and weight implications. We see a diversification in alternatively fuels for HGVs emerging in response, ranging from hydrogen, compressed natural gas (CNG) / liquefied natural gas (LNG), EV hybrid and importantly cleaner diesel solutions.
Increase in decentralised generation and storage: The rise of EVs could accelerate a parallel development in decentralised generation and storage. Cheaper home power walls and a steady demand for power could make rooftop solar a much more attractive proposition for some, with the secondary effect of freeing up generation and distribution capacity in the wider grid.