We are in a time where we can see two emerging Industries making their footsteps in the market. This seems to be very interesting that they are quite connected. We will discuss in this article about connection in their qualities and applications and how would this effect the consumers.
Here are some factors that connect the dots:
1) Electricity as a fuel:
World is moving towards the Electric fuel, the place that used to be strong hold of Oil and Coal. Now, this transformation has increased the demand of electricity and hence the need of solar. This may be the main reason that people buying electric vehicles also installs solar panel on their roof. Also, people who have solar roof are interested in buying electric vehicles.
2) Similar Technological Advances:
There has been a technological advances in both the fields. Interestingly both the industries are advancing at an equal rate. These advances have made both Solar and EV’s easy to adopt and easy to use. Let’s take the example of Battery Storage, advancements in this technology alone directly effects the development of both Solar Energy and Electric Vehicles.
3) Dip in the prices:
Development in both these fields have led to decrease in their prices. Since they use similar technologies and products, we saw dip in the prices in both these segments. Hence making them a reliable companion for each other.
4) Innovation and the Business:
Entrepreneurs in the market came up with better solutions to connect these technologies for a better application. There are businesses which can provide you with some amazing products so you can use your Solar roof for charging Electric Vehicle. Also, many companies are using solar technologies to create EV charging stations so don’t need not worry once you are away from home with our Electric Vehicle.
5) Government Policies:
Government Policies are playing a vital role in transformation of Energy and Automotive segments. Governments around the world are providing various subsidies, tax relief for the consumers who want to enter in these segments. This helped the people to move into these segments and create a new market of Solar Energy and Electric Vehicle.
We find these points the main driving factor for simultaneous development of Solar Energy and Electric Vehicles. Hope these developments together create better facilities and qualities for their customers.