In 2019 a total of 880,00 public chargers were installed with a rise to 1.2 million expected in 2020. This is a government and energy sector companies move to see the expansion is done for people to enjoy riding their electric cars. As more and more cars hook up to the grid, it will become increasingly important for utilities and governments to understand how to manage the associated swings in energy demand.
The rush to electrify transportation will shift to Europe from China in 2020 as carmakers and governments work to cut carbon emissions that lead to global warming. China will continue to dominate the global electric car market, the country’s decision to reduce subsidies will help shift growth momentum to Europe.
This year could also bring crucial steps for the electrification of planes and boats. While passenger cars have been relatively easy to run on batteries, air and marine travel is trickier. As pressure builds on airlines to reduce emissions, 2020 could see major investments in battery and hybrid technologies that could help electric planes take off.
Prices will hit about $135 per kilowatt-hour on average this year, about 13% lower than in 2019 and 89% lower than a decade ago. Further cost cuts will come as the scale of battery production increases and the design of battery packs becomes more efficient.