Electric Vehicles Are the Next Dominant Class of Renewable Energy Buyers

The briefing highlights a significant opportunity for electric vehicles (EVs) to become a dominant class of renewable energy buyers, potentially requiring 640 TWh of electricity by 2030. It urges EV charge point operators (CPOs), electric mobility service providers (eMSPs), and original equipment manufacturers (OEMs) to develop seamless 100% renewable energy charging solutions, starting with large centralized fleets. The author suggests using energy attribute certificates (EACs) to link electricity consumption with renewable purchases and argues that the incremental cost of renewables is low enough to be absorbed by providers to accelerate adoption. Finally, the document advocates for industry-wide technical standards and interoperable digital infrastructure to enable EVs to participate in energy markets and decarbonization schemes.

• Electric vehicle adoption is projected to grow significantly, with annual passenger EV sales expected to reach 10 million by 2025, 28 million by 2030, and over 56 million by 2040, at which point they will comprise more than half of all passenger vehicle sales.
• By 2030, EVs will require nearly 640 TWh of electricity, which is almost three times the amount currently purchased by RE100 companies, the world's largest aggregate buyer of renewable energy (which purchases over 220 TWh annually).
• If EVs act as voluntary buyers of renewable energy, they could stimulate the creation of 145 GW of new solar PV capacity and 105 GW of new onshore wind capacity.
• To achieve 100% renewable charging at scale, the document recommends linking every megawatt-hour (MWh) of electricity used in EV charging with one energy attribute certificate (EAC).
• The incremental cost of powering EVs with renewables is relatively low: the global average cost is approximately US$50 per year for an electric bus and US$4 per year for a personal EV.
• Renewably-powered EVs remain cheaper to operate than internal combustion engine (ICE) vehicles even in high-price electricity and EAC markets. For example, electric buses save cities several thousand US dollars annually over their 12-year lifespan compared to diesel buses, despite a higher upfront cost of approximately $300,000.
• The document recommends that the EV industry adopt open technical standards and digital infrastructure—such as the Energy Web Decentralized Operating System (EW-DOS), Energy Web Origin, and the Share&Charge Foundation’s Open Charging Network—to ensure interoperability and allow EVs to participate in energy markets.

APA

RMI (2020). Electric Vehicles Are the Next Dominant Class of Renewable Energy Buyers. https://rmi.org/resources/electric-vehicles-are-the-next-dominant-class-of-renewable-energy-buyers/

Chicago

RMI. Electric Vehicles Are the Next Dominant Class of Renewable Energy Buyers. 2020. https://rmi.org/resources/electric-vehicles-are-the-next-dominant-class-of-renewable-energy-buyers/.

Wikipedia

{{cite report |author=RMI |title=Electric Vehicles Are the Next Dominant Class of Renewable Energy Buyers |date=18 March 2020 |url=https://rmi.org/resources/electric-vehicles-are-the-next-dominant-class-of-renewable-energy-buyers/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{rmi2020electric, author = {{RMI}}, title = {{Electric Vehicles Are the Next Dominant Class of Renewable Energy Buyers}}, institution = {RMI}, year = {2020}, month = mar, url = {https://rmi.org/resources/electric-vehicles-are-the-next-dominant-class-of-renewable-energy-buyers/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }