INFO: EV excerpts from IEA World Energy Outlook 2016

A bit of Thanksgiving Day inspiration to the TC! Have a good one.

From the attached Executive Summary.

"Electric vehicles ready to move: Electricity takes an ever-larger share of the growth in final energy consumption: from just over one-quarter over the last 25 years, electricity accounts for almost 40% of additional consumption to 2040 in our main scenario and for two-thirds in the 450 Scenario. Non-OECD countries account for more than 85% of the increase in electricity use in both scenarios, but this is also one of the few energy carriers that gains ground within the OECD. Although a small factor in total power demand, the projected rise of electricity consumption in road transport is emblematic of the broader trend, as electric cars gain consumer appeal, more models appear on the market and the cost gap with conventional vehicles continues to narrow. The worldwide stock of electric cars reached 1.3 million in 2015, a near-doubling on 2014 levels. In our main scenario, this figure rises to more than 30 million by 2025 and exceeds 150 million in 2040, reducing 2040 oil demand by around 18 1.3 mb/d. Although battery costs continue to fall, supportive policies – which are far from universal for the moment – are still critical to encourage more consumers to choose electric over conventional vehicles. If these policies, including tighter fuel-economy and emissions regulations as well as financial incentives, become stronger and more widespread, as they do in the 450 Scenario, the effect is to have some 715 million electric cars on the road by 2040, displacing 6 mb/d of oil demand."

Rish Ghatikar

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