johnwalker 5d
nagle:
Norway is far enough along in this area that actuals are available.
Norway is, of course, an outlier both in its electrical generation and consumption per capita.
Around 95% of electricity generation in Norway is from hydroelectric power, and it is the largest producer of hydroelectric power in Europe. This is the result of a policy which has been in effect since 1892, and 90% of generation capacity is publicly owned.
Norway’s per capita electricity consumption is 24,182 kWh/year, ranking second in the world after Iceland (51,304 kWh/year). This is more than twice the U.S. at 11,267 kWh/year.
With abundant hydropower, electricity is the most common source for home heating and hot water, which has contributed to developing a grid which can support electric vehicle charging.
This isn’t to discount the value of the experience in Norway, where around 80% of new vehicle sales are electric, but their circumstances are unusually favourable to electric vehicles compared to countries without abundant base load hydroelectric power.
Mettelus > johnwalker 5d
From Euronews.com:
The number of fully electric cars in Norway exceeded 3 million in 2022, and the share of EVs among the total number of cars rose to 76 per 10,000 in 2021, up from only 2 per 10,000 in 2013.
Although new purchases are 80%, the total percentage of EVs is still very small. Successfully charging less than a percent of the vehicles is not a good indication of how it will go when 80% of the vehicles need to be charged. One car out of 100 can be charged at the bookstore.
Also, just a side note. In the McKinsey report they use EBITA and as Charlie Munger advised: Whenever you see EBITA, substitute BS. //
civilwestman 3d
I must wonder as to two practicalities in a place like Norway. According to a brief search, EV batteries lose 12 - 30 % of their range in cold weather - before the heater is turned on. Then, it drops around another 40%. I guess Norwegians just like the “cool” experience of gliding around in green vehicles. Are mink blankets an OEM option I wonder, like the Tsarist Russian troikas?
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