An EV charging pilot project with international energy company Indian Oil Corporation Limited at the latter’s retail outlet, aptly titled “Zero Emission Electric Mobility,” has implemented Hygge Energy’s technology platform to unlock the financial potential of renewable power (RO). In order to give EV drivers a zero-emission e-mobility experience while also making the EV charging industry profitable, Indian Oil is keen to expand Hygge Energy’s program to other similar sites.
Indian Oil has already taken a lead in promoting rooftop solar, and, through Zero Emission Electric Mobility, they have found an efficient way to aggressively promote EV charging throughout their 56,000-strong RO network. By making it a profitable business for EV charging operators. Renewable energy is used for EV charging by the Hygge Energy platform.
This system was created with three goals in mind. Solar energy is used to charge EVs, and there is no need to upgrade the grid infrastructure. Since the EV charging load is moved off-grid, there are no longer any associated high costs or delays. The system has been shown to reduce the reliance on grid load for RO operation by 80%, which enhances was still. IndianOil had enough info from the successful pilot project in 2020 to roll out this solution nationwide. This is a special solution because it makes use of IndianOil’s preceding investment in the 5.5 MW of solar PV capacity that was installed at their retail locations. Additionally, it grants access to a $15 billion market for carbon trading.
As per the Center for Energy Finance, India’s 2030 vision of e-mobility translates to 102 million EVs. This amount is needed for 2.9 million public chargers. This could indicate a total electricity demand of 97 TWh. The EV charging sector is in the scenario of 100% EV penetration according to a report by Brookings India. While this demand is less than 5% of India’s total electricity demand. The increase will be gradual as opposed to overnight, there is still concern over its impact on grid resiliency. EVs may add as much as 50% to peak demand, and 3% to peak demand growth by 2030. They have a disproportionately large impact on peak demand compared to electricity units, which risk severe underutilization and, therefore, are not available.
