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Electric Cars Are Going to Suck Up 9% of World's Power Demand

  • Battery prices forecast to slide by two-thirds by 2030
  • Electric vehicle to account for 9% of global demand by 2050
Bloomberg business news
BNEF Brief: What to Expect From Electric Vehicles by 2040

With batteries getting cheaper and governments promoting their use, electric vehicles are going to be sucking up a whole lot more of the world’s power in coming years.

How much? About 9 percent of total global electricity demand by 2050 will come from vehicles, according to a report Tuesday by Bloomberg New Energy Finance. That’s up from about 0.2 percent now. In some places it will be even higher, like Germany, where the London-based research company expects as much as 24 percent.