An almost two-century-old technology with virtually no market penetration just six years ago is now on track to become a cornerstone solution in the fight to avoid catastrophic climate change, the International Energy Agency (the IEA) reported this month. If that isn’t an energy miracle, what is?
Driven by aggressive government deployment programs and one high-flying entrepreneur (Elon Musk), the world has seen stunning drops in the prices for the advanced batteries that electric vehicles (EVs) require. The result is that of 19 key low-carbon technologies the IEA is tracking, only EVs have made sufficient progress in the market to be in the IEA’s highest category: “on track, but sustained deployment and policies required,” to keep total global warming below 2°C. The EV story shows what smart government deployment programs can accomplish for both pure battery electric vehicles (BEVs) and plug-in hybrids (PHEVs, which also have a gasoline engine):