He Keef....here's a rational thought for you You've heard the saying .....''Mind over matter.''....well, the reality is WE DONT MIND and YOU DONT MATTER..
Sentiment: Strong Buy
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Sentiment: Strong Buy
July 12, 2014 | Comments (13)
The biggest concern consumers seem to have about electric vehicles is charging; it's been dubbed "range anxiety." Electric-car maker Tesla Motors (NASDAQ: TSLA ) is attempting to tackle this concern and crush it once and for all. Nowhere is this clearer than by looking at the rapid expansion of Tesla's Supercharger network.
The fastest-growing charging network on the planet
Not only is Tesla's network of Superchargers the fastest-growing charging network on the planet, but it is also now the largest fast-charging network on the planet, period.
Just how big is the network? It now enables owners of Tesla vehicles to travel the entire width of the U.S., and up and down the West and East coasts. By the end of next year Tesla says that there will be a charging station within 100 miles of 98% of the population, giving almost any Model S owner in the U.S. the ability to travel long distances using Superchargers only. Best of all, supercharging is free for life for Model S owners.
This sort of scale is helping Tesla achieve big milestones, which the company shared in a blog post.
In June, Tesla's Supercharger network passed a charging milestone, delivering more than 1 GWh of energy to Model S vehicles in a single month. That energy accounts for a collective 3.7 million miles driven, 168,000 gallons of gas saved, and 4.2 million pounds of carbon dioxide offset. That's like driving to the moon and back seven and a half times, and nixing a day's worth of CO2 from 73,684 Americans.
Tesla's Supercharger network is overseas, too. There are already 32 in Europe (eight were built in the last week alone), and the network is just beginning in China.
This network would be insufficient if Tesla's vehicles couldn't drive long distances on a single charge. Fortunately, the entry-level Model S with a 60-kWh battery gets 208 miles of range -- plenty to drive locally without ever needing to charge anywhere except at home. The larger 85-kWh battery boasts 265 miles of range.
Further, charging must be fast enough to not be an inconvenience while traveling long distances. Tesla has addressed this concern, too. Model S owners can get a 50% charge in 20 minutes and an 80% charge in 40 minutes. Tesla-branded charging stations are about 16 times faster than most public charging stations. Considering that Tesla drivers only have to rely on Supercharger stations on long distance trips (assuming they charge while asleep at home for local driving), 20-40 minutes is reasonable -- especially when it's free.
The next steps
Tesla doesn't want to stop at serving its own vehicles with its Superchargers. The company's CEO, Elon Musk, has said that he would be open to letting other manufacturers tap into the network if they made cars capable of handling the charge and contributed their fair share toward the capital required for the network. Shortly after Tesla opened up its patents for peers to use "in good faith," it got together with Nissan and BMW to discusses a new level of collaboration on charging networks, the Financial Times reported.
Tesla plans for 98% of the U.S. population to be within range of a Tesla Supercharger by 2015. This map shows Tesla's planned Supercharger locations for the end of 2015. Image source: Tesla Motors.
For Tesla to succeed, a robust and convenient charging network is key. And if it can inspire other manufacturers to join the race with comparable charging stations, total charging convenience may come sooner than we think. While there's bound to be many challenges and hurdles along the way, Tesla shareholders should hope that the company continues to address range anxiety -- and eventually crush the concern once and for all.
Sentiment: Strong Buy
There are now enough Tesla Model S electric cars — as well as the company’s electric car chargers that keep them going — out there driving on the roads of the world that a substantial amount of electricity is being delivered by Tesla’s chargers. Tesla said in a blog post this week that its fast chargers delivered 1 gigawatt hour of electricity to Model S cars in the month of June.
Tesla plans to ship 35,000 Model S cars by the end of 2014, and it delivered 22,477 in 2013. So by the end of 2014 there will be well north of 50,000 Model S cars charging and discharging energy into millions of lithium ion batteries throughout the day and night.
Tesla is somewhat unique in the electric car charging market in that the chargers were launched specifically as a benefit — free electricity — for Model S drivers. Most other electric car infrastructure companies don’t also sell cars, so networks like Chargepoint are building businesses just off of installing electric car chargers and then selling subscriptions or doing other deals to recoup the investment. Nissan has taken a cue from Tesla in that it’s offering free charging for new LEAF drivers.
Navigant Research forecasts that global revenue from the sales of electric vehicle supply equipment will grow from $567 million in 2013 to $5.8 billion in 2022.
Updated to clarify its 1 GW hour per month.
Sentiment: Strong Buy
The Dow Jones Industrial Average (DJINDICES: ^DJI ) was trading 14 points in the green, or 0.08%, by midafternoon. Though still on pace for a weekly loss, the Dow remains near its all-time high reached just last week. Investors also hope that Wells Fargo, which beat expectations on revenue in its second-quarter report but failed to increase earnings per share from the preceding quarter, isn't a sign of other corporate earnings coming in lower than anticipated.
If earnings season is chalk full of slight earnings misses, investors would be wise to go bargain shopping on sell-offs, as long as a company's core business and long-term strategy remain viable and intact.
With that in mind, here are some major industrial companies making headlines today.
In the automotive industry, Tesla Motors (NASDAQ: TSLA ) received some good news out of China this week. In an effort to generate additional demand for electric vehicles, which have posted sales far below the government's goal, China will waive a 10% purchase tax on electric vehicles from the beginning of this September through the end of 2017.
Source: Tesla Motors.
In addition to electric vehicles that are produced in China, the tax break also applies to imported electric vehicles. Tesla has repeatedly stated that China will soon be a critical market for the young automaker. Tesla CEO Elon Musk has gone as far to say that Tesla sales in China could equal those in the United States as soon as 2015.
The cause for Tesla's potential in China, aside from the fact that the overall automotive market is exploding, is that sales of luxury and electric vehicles are expected to surpass their numbers in the United States within the next four to five years. That represents a substantial opportunity for a vehicle such as Tesla's Model S, which is a unique mix between a sports, luxury, and electric vehicle.
Sentiment: Strong Buy
China will exempt electric cars and other types of "new energy" vehicles from purchase tax, the government said, as it seeks to reduce pollution and conserve resources.
The State Council, or cabinet, said that buyers of new energy vehicles -- fully electric, hybrid and fuel cell cars -- would not have to pay the levy from September to the end of 2017, according to a statement.
The tax is 10 percent of the net value of the vehicle, according to state media.
"For achieving industrial development and environmental protection, this is a win-win," the State Council said in the statement Wednesday.
The exemption applies to imported vehicles as well as domestically produced ones, the statement said, adding the government would compile a catalogue of eligible models.
China has sought to increase ownership of electric and hybrid vehicles to ease chronic pollution and reduce reliance on oil imports, but high prices, lack of infrastructure and consumer reluctance have been obstacles.
The government has set a target of having five million new energy vehicles on the streets by 2020.
But China has only 70,000 currently in use, the China Daily newspaper reported Thursday.
The central government also offers outright subsidies for electric passenger car buyers, which were set at $5,700 to $9,800 last year, while local incentives can bring the price down further.
Lack of charging stations and the desires of Chinese consumers -- many first time owners -- for big, flashy vehicles have hurt electric car sales.
Policymakers are seeking to move away from state spending to domestic consumption as a key driver of the economy, which has been slowing.
Several foreign auto makers have announced plans to develop environmentally-friendly vehicles in China, despite the currently small market.
US electric car maker Tesla Motors has also caused a stir with aggressive marketing and by pitching its imported vehicles to luxury buyers in China, although analysts say they might only find a niche market.
Sentiment: Strong Buy
If you’re thinking about buying an electric car this year you’re not alone. Social chatter is rife with conversations about electric vehicles—good, bad, and mixed. The latest sentiment poll conducted by SAP Social Media Analytics by Netbase reveals Tesla is the number one car people are talking about.
Interest may be running high in these car models but uptake is uncertain. Research firm IHS predicts global production of electric vehicles will grow 67 percent this year. Indeed, Nissan sold a record 3,117 Leaf electric cars in the United States this past May, and over 50,000 in the last four years. Yet it’s hard to believe that the Obama administration will reach its goal of having one million electric vehicles on the road by 2015. Consumer uptake in other countries such as China isn’t exactly booming either. As of the first quarter of 2014, there were less than 7,000 electric and hybrid vehicles on that country’s roads despite government efforts to support low emission automobiles
Sentiment: Strong Buy
Tesla Motors (TSLA -1.1%) says it passed the charging milestone of 1GWh in a single month during June.
The EV automaker figures that to be the equivalent offset of 168K gallons of gas saved.
Tesla forecasts that by end of 2015 at least 98% of the U.S. population will be within 100 miles of a charging station.
Sentiment: Strong Buy
Recently, I visited the China International Battery Fair in Shenzhen. This is perhaps the largest battery show in the world, with over 980 exhibitors covering three-quarter of a million square feet. The three-day exhibition was followed by a three-day conference on battery technology and innovation drawing battery scientists from all over the world.
Almost everybody in the battery industry in China attends this show. There were lead acid batteries, NiCad batteries and all kinds of lithium-ion batteries. There were manufacturers of battery electrodes, separators and battery cases. Battery assembly equipment manufacturers were also present.
Most people think of China as a low-tech cheap labor market, but Chinese companies are now making the robots to produce batteries. Back in 2008, Chinese battery assembly equipment manufacturers were struggling to produce cylindrical cells. Today they have mastered the production of cut and stacked cells (which is where the future of lithium-ion technology is heading).
China's central government is investing huge resources into the battery industry to make China the world leader of battery technology.
One hundred years ago the engine was the key to manufacturing an automobile; for electric vehicles the battery is the key: that is where the power comes from. Batteries are the most expensive component in an electric vehicle, sometimes exceeding more than half the bill of materials cost. Tesla's Gigafactory will change the entire automobile industry and give Tesla an incredible competitive advantage, putting Tesla years ahead of all other automobile manufacturers. Tesla will turn its electric vehicle manufacturing volume into a battery cost advantage and make it very difficult for other automobile manufacturers to compete.
The Chinese government also understands the importance of batteries to the electric vehicle industry. The central government is investing huge resources into the battery industry to make China the world lea
Sentiment: Strong Buy
By Scott Levine | More Articles
July 8, 2014 | Comments (0)
SolarCity leapt into the spotlight several weeks ago when it announced the acquisition of Silevo -- a solar panel manufacturer, whose modules, according to SolarCity's press release, "have demonstrated a unique combination of high energy output and low cost." This announcement drew considerable attention because SolarCity has sourced its solar panels from third-party vendors -- namely Chinese manufacturers like Trina Solar and Yingli Green Energy.
Is SolarCity done making acquisitions? I don't think so. What else the company has up its sleeve is a mystery, but below I've presented two companies I believe would add substantial value for the leading residential solar installer.
Potential target #1 -- To string invert or microinvert
One company that may attract SolarCity's attention is Enphase Energy (NASDAQ: ENPH ) , a leader in microinverter solutions. Presently, SolarCity relies on central inverters, otherwise known as string inverters in its systems. Provided by SolarEdge, ABB's Power-One, Fronius, and SMA, central inverters are connected to multiple PV modules, converting the generated-power from DC to AC. Debate regarding the use of string inverters and microinverters is quite common in the solar industry; nonetheless, SolarCity has taken the string inverter route. There are several drawbacks of this type of systems, namely, should there be an inverter failure, all of the electricity generated by the "string" of panels would be lost. With microinverters, however, the power loss would be mitigated -- limited to the one panel to which the microinverter is connected.
Source: Enphase Energy
Currently, Enphase sports a market cap of about $400 million -- twice as much as the $200 million in stock which SolarCity shelled out for Silevo. However, using microinverters would presumably be an effective cost-cutting measure. SunPower (NASDAQ: SPWR ) , one of SolarCity's main competitors, uses SolarBridge microinverters with its E18 and E19 solar panels. Recognizing the value in using microinverters, SunPower finds that, "Microinverters are integrated with SunPower's solar panels at the factory level, reducing installation time, complexity and overall cost of the system."
Enphase would not only add value to SolarCity's operations, but it would, in time, be its own source of revenue growth. At the moment, Enphase is unprofitable, but the company's financials are improving. In the first quarter, the company's revenue of $57.6 million represented 26% improvement year-over-year, and its 32.7% gross margin, a 570 basis point year-over-year improvement, was a company record. An acquisition of a microinverter manufacturer would not only complement the Silevo deal but also the $158 million acquisition of Zep Solar, a leader in residential PV module mounting systems. Touting the value of the acquisition, SolarCity stated that "Zep Solar's product portfolio works as a comprehensive system that reduces the cost and complexity of designing, shipping, warehousing, and installing PV systems."
Potential target #2 -- A real good idea
Another possible, less-expensive, yet equally interesting acquisition would be RGS Energy, which has a market cap of $120 million. Formerly known as Real Goods Solar, RGS Energy is one of the leading residential solar installers in the nation.
Source: RGS Energy
RGS Energy operates in 12 states. According to GTM Research, RGS accounted for 2% of residential solar installations in 2013, making it the fifth largest installer. SolarCity was the leading residential solar installer with 26% of installations. For 2014, RGS Energy is guiding for installations to fall in the range of 50-55 MW, while SolarCity is guiding for installations to come in at between 500 and 550 MW.
RGS Energy operates in most of the same states as SolarCity; however, RGS Energy has a presence in some states in which SolarCity doesn't, like Missouri, New Hampshire, Rhode Island, and Vermont. Although New England may not seem like the most logical region in which to develop solar resources, in actuality, the Northeast has been quite popular. In the map below, the darker shades of brown represent the areas with the greatest solar power production potential, while the yellow circles represent currently installed solar power plants.
Sentiment: Strong Buy
The personalized immunotherapy known as CTL019 was developed by the University of Pennsylvania and was designated a "breakthrough therapy" by the US Food and Drug Administration.
That means the experimental therapy will benefit from a speedier than average review process and will get extra attention from the FDA toward development for market.
It is the first cancer immunotherapy to receive the breakthrough designation, and only the fifth biologic agent so far.
The approach works by extracting a patient's T-cells, then genetically programming them in the lab to target cancer cells that produce a protein called CD19.
The altered T-cells are then re-injected into the patient's body, where they multiply and attack cancer.
Researchers reported last year that of 27 patients, including 22 children and five adults, with acute lymphoblastic leukemia, 89 percent had a complete response to the therapy, meaning their cancer became undetectable.
The first child to receive the treatment, Emily Whitehead, in May marked two years of being in remission, and the first adult patient has been in remission for one year.
"Our early findings reveal tremendous promise for a desperate group of patients, many of whom have been able to return to their normal lives at school and work after receiving this new, personalized immunotherapy," said the Penn research team's leader, Carl June.
The university in 2012 teamed up with pharmaceutical company Novartis to develop and license personalized chimeric antigen receptor (CAR) T cell therapies for the treatment of cancers.
In addition to the ongoing trials for acute lymphoblastic leukemia, trials using CTL019 began in the summer of 2010 in patients with relapsed and refractory chronic lymphocytic leukemia.
It is also being tried in patients with non-Hodgkin lymphoma and myeloma.
More research is also under way into CAR therapies for mesothelioma, ovarian, breast and pancreatic cancers.
Tesla Motors Inc. (TSLA), the electric-car maker led by Elon Musk, should report second-quarter sales of its Model S that show China compensating for softer European demand for the sedan, Barclays Plc analyst Brian Johnson said.
The company will probably meet its forecast of delivering 7,500 of the cars during the quarter, said Johnson, who rates Palo Alto, California-based Tesla the equivalent of a hold. Achieving that goal will be the result of China-bound shipments, he said in a research note yesterday.
Initial quarterly delivery data from the Asian nation “demonstrate the increased importance that China will need to play in meeting Model S guidance for 2014 to compensate for apparently plateauing demand in Europe and North America,” Johnson said. “A solid debut in China appears to have compensated for a softening in Europe.”
Musk, 43, traveled to China in April to mark the start of deliveries of Tesla’s flagship sedan to the world’s biggest auto market. The company’s chief executive officer and biggest shareholder has said Tesla’s sales volume in China may match that of the U.S. as early as 2015.
The U.S. company may have delivered as many as 1,300 units in China during the quarter, Johnson said, citing Chinese media reports. Tesla hasn’t said when it will release second-quarter results.
Photographer: Lam Yik Fei/Bloomberg
A man test drives a Tesla Motors Inc. Model S sedan electric vehicle in the area of... Read More
Tesla fell 2.9 percent to $222.66 yesterday in New York. The stock has risen 48 percent this year
Sentiment: Strong Buy
A stolen Tesla electric car split in two after a fiery crash on a West Hollywood, Calif., street following a police chase at speeds up to 100 miles per hour. There were several injuries in the multi-car crash, but no deaths at the scene, authorities say.
The Tesla Model S apparently split after striking a pole at the end of the chase early Friday, resulting in injuries to several people, according to Los Angeles police statements to KTLA-TV, which captured dramatic video of the event.
The horrific crash could bolster safety claims made last month by Tesla CEO Elon Musk. He told shareholders that no one had died in a Tesla or had a "single permanent injury" despite some dramatic crashes and more than 344 million miles of driving from all the cars on the road. "That is certainly one of our proudest accomplishments," he said.
KTLA reported that the chase began after a Tesla dealership reported the car was being tampered with on its lot. Photographs of the scene appear to show the Tesla's rear end wedged between a wall at a synagogue, several dozen feet from the front half, which came to rest next to two other wrecked cars in the middle of the street. From the photograph, it appears Tesla Model S split behind the front seats.
The Model S has a five-star safety rating from the National Highway Traffic Safety Administration . Safety became an issue earlier this year after two fires were reported in the cars' battery packs in the U.S. after striking objects on the road. But the company has since taken several steps, including adding additional protection to the battery pack. It also has emphasized that drivers had plenty of time to exit their vehicles and no one was ever injured.
Sentiment: Strong Buy
By Daniel Sparks | More Articles
July 2, 2014 | Comments (0)
Already, Tesla (NASDAQ: TSLA ) officially delivers the Model S in 14 countries -- including some in Europe and even Asia. Where's Tesla headed next? Australia, according to the Australian Financial Review.
Tesla in Austrialia
Tesla is "gearing up for a September launch," according to Financial Review. And the Supercharger network is coming, too. Financial Review's James Hutchinson says that Tesla "plans to build here the same superchargers that line US highways."
Model S interior. Tesla is expanding to right hand drive markets this year. Image source: Tesla Motors.
If the Model S succeeds in Austrailia, it will mark the first time electric cars have gained any traction. Hutchinson cites data from VFACTS that shows just 153 electric vehicles delivered between 2011 and 2013. Tesla's Model S and the proliferation of Superchargers haven't yet failed to attract new buyers in any other market the company has entered.
The move to Australia comes appropriately after Tesla introduced its first right-hand-drive vehicles in the United Kingdom last month.
Where is Tesla headed next?
So far, Tesla is officially delivering cars in the following countries:
Next on the list is likely right-hand-drive markets Japan and Hong Kong, where Tesla has said it plans to begin deliveries late this summer.
Supply is about to ramp up
But despite the rapid international expansion, demand likely will not be a factor influencing deliveries this year. Tesla is limited by supply. The fact that it took Tesla two extra years after the initial launch of the Model S to finally make it to Australia shows just how constrained supply is.
Also, consider that Tesla CEO Elon Musk explained in the annual shareholder meeting that there was no reason for it to renew its contract with Toyota and continue to supply parts for its electric vehicles since that would simply further constrain Model S deliveries. Demand is clearly not a concern for the company.
But Tesla has emphasized that bottlenecks would improve in the second half of the year. "Battery cell supply will continue to constrain our production in the first half of the year, but will improve significantly in the second half of 2014," the company said in its fourth quarter 2013 letter to shareholders.
Indeed, Tesla is projecting significantly higher deliveries in the second half of 2014. Tesla expects to deliver 7,500 vehicles this quarter, adding up to about 15,000 vehicles for the first half of 2014. That leaves 20,000 deliveries for the second half of 2014 in order for the company to hit full year guidance. Tesla expects to wrap up the year with a production rate of about 50,000 vehicles per year.
If Tesla's optimism about its international expansion holds true, investors should buckle up. Even though the Model S was the top-selling vehicle in North America among comparably priced cars, Tesla says that potential in Europe and Asia "is even more significant."
Sentiment: Strong Buy
Heading into the 2nd quarter of the year, Tesla (NASDAQ: TSLA ) said it expected to sell 7,500 cars in a shareholder letter to investors.
"We expect to deliver about 7,500 Model S vehicles in Q2 as we move toward our goal of more than 35,000 Model S deliveries for the year. We also plan to produce 8,500 to 9,000 cars in the quarter, representing a 13% to 19% increase over Q1."
RHD Tesla Model S Does Some Promo Work in the UK...Of Course it Was Raining At the Time
We can now put the virtual checkmark beside that outlook statement as a surge of imports into China, plus a strong last month of U.S. sales, looks to have put the U.S. electric vehicle maker over the top.
Tesla made its first deliveries into China in late April after reportedly importing 53 cars during the month. May was followed up by a further 532 Model S sedans arriving in the country -- including one car that was smashed by its disgruntled owner after just receiving the keys.
And while June numbers have yet to be tallied in China, first hand accounts from the ground say that June was an even busier month for deliveries. Pencil in at least 1,200 deliveries for China during the quarter.
Of course exact numbers won't be known until Tesla reports in August, but we are confident in our own projections tracking North American sales for the 2nd quarter at around 4,250 (3,900 US/250 Canada) is accurate within a couple hundred units (historical accuracy has ranged from +/- 75 to 350 units as a matter of disclosure).
Advanced numbers (via registrations) from Europe have Tesla delivering approximately 1,200 cars in the first two months of the quarter
Additionally, Tesla finally started much delayed deliveries of right hand drive cars into the UK on June 7, and we expect at least 1,200 more units found there way into Europe for June. Further RHD sales into Hong Kong, Japan and Australia are expected in volume during the third quarter.
Sentiment: Strong Buy
By Jay Yao | More Articles
June 21, 2014 | Comments (0)
It may be controversial, it may be volatile, but one thing SolarCity (NASDAQ: SCTY ) certainly is not is unambitious.
With an industry-leading 32% market share of the U.S. residential rooftop market, SolarCity now wants a slice of the solar panel market as well.
The solar finance company recently announced that it will acquire Silevo, a company that makes high efficiency solar panels, for $200 million in stock and potentially an additional $150 million in performance earn outs.
Silevo manufactures solar panels with a cell efficiency of approximately 21%, or roughly the same as that of industry leader SunPower's (NASDAQ: SPWR ) , for about the same production cost as that of other top solar panel makers.
The acquisition will make SolarCity vertically integrated like industry leaders SunPower and First Solar (NASDAQ: FSLR ) .
The market liked the news and sent SolarCity stock rallying over 17%.
Market applause for a potential game-changer
With the rally, the market is voting that the acquisition is a brilliant move by SolarCity.
If done well, the acquisition could indeed be a game changer for the company. By becoming vertically integrated, SolarCity will have a new sector in the gigantic global solar panel market to grow into. With the right R&D, Silevo's solar panels could also be the crucial ingredient that differentiates SolarCity from other rooftop solar installers/financiers. It could provide SolarCity with a technology moat that so many detractors say the company lacks.
With its plan to build a solar panel factory with 1 gigawatt of annual capacity in New York in two years and factories with potentially as much as 10 gigawatts of annual capacity in the following years, Silevo will also put SolarCity in the big leagues in terms of solar panel production.
To put 10 gigawatts of annual capacity in perspective, the global PV solar panel market is only expected to be 54 gigawatts in 2015 and 118 gigawatts in 2020.
Lastly, the acquisition should also cushion SolarCity from the negative impact of recent U.S. duties on Chinese solar panel imports.
The bottom line
Up to this point, SolarCity management has executed beyond most analyst expectations in terms of gaining market share and containing costs. It remains unclear, however, whether management can do the same in the solar panel market, where the gross margins are lower and the competition is tougher.
Producing solar panels efficiently and cost effectively is radically different from installing solar panels on rooftops and lining up solar financing. If actual solar panel demand does not meet expectations, the acquisition could also potentially expose SolarCity to industry oversupply.
That being said, with the acquisition of Silevo, SolarCity is showing that it is willing to do whatever it takes to succeed. In a recent blog post, SolarCity said it may do further acquisitions down the road to ensure clear technology leadership. With a market capitalization of over $6 billion, SolarCity certainly has enough currency to fulfill its ambitious goal of accelerating mass adoption of sustainable energy for all.
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Sentiment: Strong Buy
ATLANTA (AP) - Georgia employers are being encouraged to install charging stations to remove a major hurdle preventing their workers from buying electric cars.
Georgia already is the state with the second-largest number of electric cars, notes Don Francis, executive director of Clean Cities Georgia. Each month, 1,000 more hit Peach State roads.
“We won’t soon catch California, but we’re leaving every other state in the weeds,” he said at a seminar the Metro Atlanta Chamber of Commerce recently hosted for employers.
But 80 percent of those cars are in five metro Atlanta counties, according to Ben Echols, program manager for electric transportation at Georgia Power.
“How do we take that success to Savannah, to Macon, to the rest of the state?” he asks.
Gov. Nathan Deal’s administration is formulating incentives to encourage construction of charging stations, which run about $15,000 each installed. But Georgia employers like Coca-Cola, Georgia Power, Cisco Systems and TOTO USA have already done it, either because their workers requested it or because of a corporate environmental goal. Coke has the most stations with 85, all in Atlanta.
“We’d like to thank the state of Georgia and the federal government for helping us out,” said Eric Ganther, transportation planner at Coke. “The tax incentives are, of course, very helpful and key to making this work.”
Congress created a program in 1992 to reduce consumption of petroleum and dependence on shaky foreign governments, a program that offers technical assistance and grants to employers. Some of the federal financial incentives expired in January though.
The state has its own reasons for encouraging the cars. They have no exhaust, easing air-quality problems in places like Augusta and Atlanta that limit which manufactures can locate there. Plus, an estimated $14 billion yearly flows out of the state to buy gasoline that could otherwise boost the state economy since electric vehicles cost about one-tenth as much per mile, Francis said.
“We love workplace charging because it is an incredible benefit of work,” said Sarah Olexsak, coordinator of the Workplace Charging Challenge at the U.S. Department of Energy. Plus, the company parking lot serves as a showroom where owners convince their co-workers to consider electric cars.
Nissan Motors found in its surveys that having a workplace charging station was more critical to people buying an electric car than stations at stores or recreation sites.
However, experience has shown that customers spend more time shopping in stores where their cars are charging, according to Cornelius Willingham, the carmaker’s EV operations manager in the Southeast.
Employers find that installing a charger leads more and more workers to buy electric cars putting the chargers to use.
“I guarantee you what you build today won’t be enough,” Echols said.
Read more: http://www.washingtontimes.com/news/2014/jun/22/state-aims-for-more-electric-car-charging-stations/#ixzz35T9fh7mU
Follow us: @washtimes on Twitter
Sentiment: Strong Buy