Hygge Energy & Indian Oil Jointly Launches EV Charging Pilot Project
Hygge Energy’s software platform to unlock the monetary potential of renewable energy has been successfully implemented at an EV charging pilot project, aptly titled “Zero Emission Electric Mobility”, Indian Oil Corporation at the latter’s retail outlet (RO). IndianOil is keen on expanding Hygge Energy’s program to other such sites where EV charging can be supported by existing rooftop solar installations at these ROs for providing a zero-emission e-mobility experience to EV drivers and making the EV charging business profitable.
IndianOil has already taken a lead in promoting rooftop solar, and, through Zero Emission Electric Mobility, they have found an efficient way to aggressively promote EV charging throughout their 56,000-strong RO network. They will spread awareness throughout their dealer network about Hygge Energy’s EV charging platform, and the benefits associated with it. In the context of this project, Hygge Energy’s platform is used to maximize usage of renewable energy for the purpose of EV charging, making it a profitable business for EV charging operators. The solution is supported by an immersive, end-to-end EV charging app that facilitates the entire EV charging experience.
The system was designed with three important objectives in mind: EVs are charged using solar power; no upgrades are required in grid infrastructure as the EV charging load is taken off-grid, hence avoiding high costs and delays associated with the process; and grid resiliency improves as the system has demonstrated 80% reduction in grid load dependency for RO operation. The success of the pilot project in 2020 provided IndianOil with enough data points to expand this solution across the country. This is a unique solution as it leverages IndianOil’s existing investment made in installing 5.5 MW of solar PV capacity at their retail outlets. It also opens up access to a USD 15 billion carbon credit market.
As per the Center for Energy Finance, India’s 2030 vision of e-mobility translates to 102 million EVs, which amounts to a need of 2.9 million public chargers. This could indicate a total electricity demand of 97 TWh by the EV charging sector in the scenario of 100% EV penetration according to a report by Brookings India. While this demand is less than 5 per cent of India’s total electricity demand and its increase will be gradual as opposed to overnight, there is still concern over its impact on grid resiliency. EVs may add as much as 50 per cent to peak demand, and 3 per cent to peak demand growth by 2030. They have a disproportionately large impact on peak demand compared to electricity units, which risks severe underutilization and, therefore, unviability. This makes it clear that the solution is to address not the amount of electricity produced to meet this demand, but when it is produced. Hygge Energy’s patented software does exactly that: it tracks the source and the point of consumption of renewable energy, which also has the benefit of creating end-to-end carbon trails. This enables grid resiliency.
Mr. Prateek Saxena, CEO of Hygge Energy, said, “We have achieved fantastic results from the IndianOil project, and found that Hygge’s solution can slash the payback period of rooftop solar by as much as 80 per cent and drastically reduce electricity bills as well. We are committed to scale it and work with other EV charging service providers and DISCOMs. Now, in the next phase of the project, we are going to demonstrate how renewable energy-based EV charging can bring additional cash to large corporates like IndianOil in terms of carbon credits through our patented technology; each EV charging station could potentially generate Rs. 5 to 10 lakhs annually through our carbon trading system – this amounts to an additional Rs. 1000 crore in revenue from carbon credits for IndianOil’s proposed 10,000-strong network of EV charging stations.”
In Zero Emission Electric Mobility, EVs are charged by installing solar PV and batteries at the charging site and integrating them with grid infrastructure using Hygge Energy’s technology platform that enables tracking, measurement, optimization, allocation, accounting and trading of energy. As a result, renewable energy e-mobility can be accommodated without the need for additional investments in grid infrastructure. Built on Hygge’s patented solution, this is one of the most cost-effective solutions for the deployment of EV charging globally.
