Economic Development 2022:
A Q&A with Jennah Denney,
EV Charging Infrastructure Program Manager, Today’s Power
What kind of impact has the renewable industry had on Arkansas’ economy?
In the six years that I’ve had the opportunity to work in renewable energy, I’ve seen solar, energy storage, and most recently, electric vehicles grow at an exponential rate. Renewable energy technologies provide an economic advantage for two reasons: (1) they create jobs, and (2) they use primarily indigenous resources, allowing most energy dollars to stay in the country. Arkansas’ economic potential is increasing because of transportation electrification. Electric vehicles are laying the groundwork for a strong Arkansas EV economy by lowering the cost of ownership and operation, and as well as having some of the lowest electric rates in the country. Electric vehicle charging is a cheaper alternative to fueling up at the pump.
Specifically, what kind of impact has Today’s Power had?
At Today’s Power, we have had the opportunity to work with cities and utilities that strive to lead by example on behalf of their communities of residents, customers, students, businesses and utility providers, demonstrating to the state and the rest of the country that promoting low-carbon projects such as solar and electric vehicle charging not only fosters clean energy and efficiency — it also creates incentives for good employment and investment in the city and are environmentally friendly.
Do you expect additional renewable applications to gain popularity as the general public becomes more familiar and comfortable with the industry?
As a result of the recently passed infrastructure act, more Americans, particularly those in rural and underserved areas, will have more opportunities to benefit from the renewable energy economy. The approximately $54 million the state is set to receive to build out a statewide network of EV chargers to support EV adoption across the state is an example of how this can impact Arkansas and renewable energy application growth. There are numerous economic and environmental benefits associated with the EV economy, and with ample charging infrastructure and the availability of larger models such as electric trucks and SUVs, I believe that utilization rates of electric vehicles and other renewable energy technologies will increase over the next few years.
What kind of technological advances do you expect in the next five years?
The top two technological advances that I believe we will expect over the next five years will be improved large-scale electric vehicles (EV) and more cost-effective battery energy storage. In the EV space, personal electric vehicles are grabbing more and more market share, commercial fleets and municipalities could follow suit rapidly. For commercial businesses looking for electric delivery trucks, the total cost of ownership (TCO) could soon be on par with diesel-run trucks, due in part to increasingly cost competitive and available electric vehicle infrastructure. And for municipalities looking to electrify public transit, although e-buses have higher acquisition prices due to upfront battery costs, their TCO is lower due to their independence from pricey diesel. They also eliminate local particulates, including SOx, NOx and CO2, all major issues in most cities today.
The new era of electric vehicles has rapidly expanded the market for lithium and cobalt batteries — while also significantly lowering their cost. The expanded battery market has impacts for more than just EVs. They are increasingly being used as energy-storage solutions by industry and utilities. With battery prices falling rapidly, they are proving useful in lowering power costs, increasing reliability and resiliency, and making power systems more flexible to operate.
READ ALSO: Denney Named EV Charging Infrastructure Manager for Today’s Power
