> Essentially, all vehicles parked at a residence start every day with a full charge.
But as I pointed out, this causes a non-trivial rise in the demand for electricity at the home, and a consequent jump in electricity prices.
Somewhat relevant-- inflation and other economic problems have already caused a growth in car repos this year. And it includes both the mid-level and luxury vehicles. People who thought they could afford those massive "market adjustments" in the past two years are literally unable to make payments. And that's with banks really wanting to avoid doing the repos since the price at auction is already going to be significantly lower than those market-adjusted prices.
That is to say...
If EVs are produced at scale and home chargers installed at scale, a jump in electricity prices could lead to the same problem. In that case it doesn't matter how cheap EVs get, that electricity price jump is functionally equivalent to taking on higher monthly payments for the car. And someone in Dallas, Texas needs both a charged car to get to work and their home air conditioner running to not die. If things get tight then it's the actual car payments that have to go unpaid. And we'll be back in repo land again.
But as I pointed out, this causes a non-trivial rise in the demand for electricity at the home, and a consequent jump in electricity prices.
Somewhat relevant-- inflation and other economic problems have already caused a growth in car repos this year. And it includes both the mid-level and luxury vehicles. People who thought they could afford those massive "market adjustments" in the past two years are literally unable to make payments. And that's with banks really wanting to avoid doing the repos since the price at auction is already going to be significantly lower than those market-adjusted prices.
That is to say...
If EVs are produced at scale and home chargers installed at scale, a jump in electricity prices could lead to the same problem. In that case it doesn't matter how cheap EVs get, that electricity price jump is functionally equivalent to taking on higher monthly payments for the car. And someone in Dallas, Texas needs both a charged car to get to work and their home air conditioner running to not die. If things get tight then it's the actual car payments that have to go unpaid. And we'll be back in repo land again.