Australia warned to gear up for an electric vehicle dominated future

By Ceyda Erem ·

Whether you’ve seen a charging station or driven past one on the highway, electric vehicles (EVs) are here to stay and the Australian Energy Market Commission (AEMC) has stated that Australia needs to start preparing for an EV dominated future. 

Commission Acting Chief Executive, Suzanne Falvi said that the sales of electric vehicles had increased by more than 200% between 2018 and 2019 and that over 6,700 EVs were sold in 2019 alone.

“We need to lock in lower cost ways to support consumers who want them...if we get ahead of the curve, we can make sure this technology makes a positive contribution to our future power system,” she said.

One example the Commission gave of how EVs can positively impact the market was the fact that it gave Aussie households the opportunity have control over how energy is distributed both inside and outside their home. 

“Electric vehicles have the potential to put energy back in the hands of consumers and help keep the system reliable and secure,” said Falvi. 

“With the right systems in place, households can charge their vehicles when energy is cheap and have the option to sell power back into the grid when it’s more expensive.” 

RELATED: AEMC: Energy retailers to tone down late bill payment penalties, protecting vulnerable customers

Technology developments for charging stations - these are stations where EV batteries can be recharged - could also result in a demand response resource for the grid, and that EV batteries had the potential to soak up excess rooftop solar generation and release this electricity into a home or the grid.  

“Along with solar PV and smart appliances, electric vehicles can be part of a consumer’s future toolkit to reduce their energy output when prices are high.” 

Want to learn more about EVs? Check out our comprehensive electric vehicle 101 guide!

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Ceyda Erem
Ceyda Erem
Money writer

Ceyda Erem is Mozo’s authority on Energy, as well as having broader expertise as a personal finance writer. She loves to put her researching and writing talents into stories that help our readers to make more informed financial choices, whether that’s about finding the best energy deal or writing about the latest sneaky bank tricks. Ceyda has a Bachelor of Arts (major in writing) from Macquarie University.