Riding Electric Vehicles to Economic Recovery

(Rick Sander, CEO, Tuesday April 6, 2021)

As the US recovers from the economic impact of COVID-19, infrastructure appears to be one ofthe key investment areas for the federal government, which is not unusual. What is (somewhat) different this year is the extent to which vehicle electrification is central to this economic recovery. The latest press release from the White House proposes a $174 billion investment to “win the EV market”, with a focus on creating high-paying jobs while improving air quality and winning the global EV race. Key aspects include rebates and tax incentives for consumers, building a network of a half-million EV chargers, all (preferably) with US content. Multiple states are also investing to spur EV adoption, including California (already a leader due to air quality concerns) and New York; these investments are expected to increase to spur sustainable job growth.

Federal and state governments aren’t the only ones who believe that EVs and EV infrastructure are critical to economic recovery. The Center for American Progress recently wrote an article on how EVs should be a big win for US workers if government policies help to reverse losses by unions in the auto and construction industries. The Rocky Mountain Institute also recently authored a study on recommendations for a “zero-carbon” economic recovery of which electrification (including vehicle electrification) is a critical ingredient. Areas like ports and airports are also seeing their vehicles being electrified to reduce air pollution in facilities that have historically been pollution “hotbeds”. While some economists believe that EV and clean-tech are a “bubble” fueled by post-COVID recovery expectations, this is more tied to the equity markets than it is to actual revenue performance or jobs creation. The fact that oil companies are investing in EV charging infrastructure and EV technologies is certainly testimony to the fact that the economy is fundamentally changing, and that EVs and EV charging technology is critical to this evolution.

Rhombus has built high-power DC fast charging systems and smart inverters for renewable energy such as “behind the meter” grid energy storage systems for several years. We have applied that expertise to the design of our latest-generation bi-directional EV charging systems (which are designed from the start for the needs of fleet operators) and bi-directional smart inverter systems for microgrids. Rhombus expertise in energy management system (EMS) software is also embedded in our VectorStat EMS controller and software which is embedded in our EV charging systems and smart inverters. Rhombus also excels in the design and testing of high-power electrical equipment to meet the requirements of UL and other certification organizations. We have built hundreds of V2G-capable high-power, high-reliability chargers and bi-directional smart inverters for a variety of different sizes and classes of EVs. Find out how we can help you by contacting us at news@rhombusenergy.com, or by reading our Vehicle to Grid Solution Brief.