What is OCPP?
OCPP stands for Open Charge Point Protocol, which is a communication protocol used for electric vehicle (EV) charging. It is an open standard that defines how charging stations and electric vehicles communicate with each other to initiate and monitor charging sessions. The OCPP protocol enables interoperability between different brands of charging stations and EVs, allowing drivers to charge their vehicles at any charging station that supports the protocol. It also enables the integration of charging stations into energy management systems, allowing for the management and optimization of charging based on energy supply and demand, as well as enabling the tracking of energy consumption and billing for charging services.
What is ESG?
Environmental, Social, and Governance (ESG) benchmarks are a set of standards focused on enterprises’ socially and environmentally conscious operations used as a litmus test for potential investors.
From the organizational standpoint, ESG goals are a standard by which they can seek to optimize and streamline their operations while discovering and removing inefficiencies and reducing needless costs.
Let’s break down these guidelines further:
- Environmental – How does the organization address its carbon footprint, sustainable business practices, supply chain and partnerships?
- Social – How does the organization manage its relationships with employees, shareholders, clients, partners, and their local community?
- Governance – How does the organization organize its executives, their pay structure, shareholder rights, periodic audits, and internal financial controls?
These three criteria are weighed and then compared to other organizations within and outside of your sector to come up with an ESG Score or Rating.
What is DC (Direct Current) Fast Charging?
DC fast charging offers accelerated charging away from home, primarily available at public stations. Enabled by an off-board charger that connects directly to a vehicle high voltage battery bus, this type of charging allows for high power transfer (>50kW) and faster recharge times – minutes instead of hours.
What is a BMS?
A battery management system (BMS) is a system that ensures each cell is draining at roughly equal rates, and coordinates input and output so they all act as a single unit.
What is a Demand Charge?
Demand charge is a fee that is assessed by utility companies based on the highest rate of energy usage (measured in kilowatts) during a given billing period. It is a way to charge customers for the peak power usage that strains the electricity grid, regardless of the total energy used. The demand charge is typically a separate line item on the monthly utility bill and can be a significant cost for large commercial and industrial customers with high energy usage.
What is Time of Use?
Time-of-Use (TOU) is a pricing structure for electricity usage where the cost of energy varies depending on the time of day and the day of the week. With TOU pricing, customers are charged more for electricity during periods of high demand (such as weekday afternoons) and less during periods of low demand (such as overnight). The goal of TOU pricing is to encourage customers to shift their energy usage to off-peak periods, which can help to reduce strain on the electricity grid during periods of high demand. TOU pricing can benefit customers who are able to adjust their energy usage to take advantage of lower rates during off-peak periods, but it can also result in higher bills for customers who are unable to shift their usage patterns.
What is Energy Arbitrage?
Energy arbitrage refers to the practice of buying electricity when it is cheap and selling it back to the grid when it is expensive. This can be achieved through a variety of means, including buying energy during off-peak periods when prices are low and using energy storage systems (such as batteries) to store the energy for later use during periods of high demand. Energy arbitrage can be a profitable opportunity for individuals and businesses with access to renewable energy sources, as well as those with the ability to manage their energy usage effectively. The objective of energy arbitrage is to make a profit by taking advantage of price differentials in the energy market, and it can also help to reduce overall energy costs and improve grid stability by reducing the need for power plants that use fossil fuels.
What is V2G
V2G stands for “Vehicle-to-Grid,” which refers to the concept of using electric vehicles (EVs) as a source of energy storage to feed power back into the grid. This can help to balance power demand and supply, and provide a new revenue stream for EV owners by selling excess energy back to the grid. V2G technology is seen as a way to increase the use of renewable energy sources, such as wind and solar, and support the transition to sustainable energy.