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Wednesday, October 19, 2011

Fueled on Electricity - Electric Vehicles on a Street Near You


Today’s post is brought to you by one of our former bloggers, Alison.  She’s been working on a neat project closely tied to EV’s, read below to get the scoop…

A new evolution of vehicles is a reality – the electric vehicle (EV).  You may have chuckled at new TV commercials, seen them on the road in your neighborhood, or perhaps participated in National Plug-In Day last weekend.

At Dominion, we have an interest in helping our EV owners make the best decisions possible when it comes to charging their vehicle.  That is why we have recently announced a new pilot program that offers EV owners the option to sign up for a pricing plan that encourages night-time charging. 

Virginia has a relatively large amount of first-generation hybrid vehicles, therefore we believe that Virginia could be one of the hottest markets for plug-in electric vehicles.  By 2020 there could be 86,000 EVs in Virginia – equal to 5% of all vehicle sales.

That is pretty exciting news, however what would happen if all those EV’s came home after work and plugged in to “re-fuel” while it was on-peak?  The new electric load from EVs could increase the amount of peak-demand electricity by about 270 megawatts, equivalent of powering 67,500 homes.   

As part of the new EV PricingPlans, customers can manage energy costs based on when they charge their EV.  Pricing changes throughout the day and the price is as low as $0.05 per kWh for night time charging under either of the two new plans.

That means a nightly EV charge cost is between $0.51 and $0.54.  Compare that to the standard residential rate of an anytime charge cost of $1.10.   It should be known that the pricing is higher during on-peak times.  We’ve developed an EVPricing Plan Calculator to help see pricing differences and decide which plan is best for you.   

Learn more by visiting our website

Thanks everyone.

Alison

1 comments:

plumbing supplies said...

This is really helpful for those who have EV.Its like having cheap gas. Hope this will be upgraded and be pursued. Helpful in both community and nature. Great job guys.