EV Charging has never been a software or hardware problem. It is an electrical grid infrastructure problem. With our proprietary charging technology, we are here to de-bottleneck the grid infrastructure and to truly enable a widespread EV charging network.
Swift Charge was founded by a team of researchers and professionals in the power and renewable energy industries. Our goal is to make driving EV affordable for everyone. We achieve this goal with our innovations in EV charging technologies. Similar to the gas price for the internal combustion engine vehicles, the cost of charging is the critical factor that determines whether driving an EV makes financial sense.
While everyone knows that the future of transportation is electric, most of us don’t know that our power grid is still a barrier to the widespread charging network and could even become an enemy of the EV industry.
Why? Because the power grid was not designed for EVs. Research has shown that EV charging will increase the peak power demand by 40% in less than 20 years, but our electrical grid infrastructure cannot handle such load demand.
In the past 30 years, around $1.2 trillion has been spent in the US to build new and upgrade existing distribution grid infrastructures. But to support the EV charging demand, these existing infrastructures will need to be fully upgraded again, costing another $2 trillion in the next 30 years. On top of that, the world will need to spend another $2.7 trillion by 2040 to build the charging infrastructure.
Such massive construction work and expense will be time-consuming, significantly increase the electricity price, and even make EVs more expensive to drive than ICE cars. So now the question is, are we going to spend the money and rebuild the entire infrastructure, or can we find another way that is efficient in both cost and time?
After years of research, we at Swift Charge have found the best solution. We have developed a microgrid technology that can minimize the costs for all kinds of charging applications. Unlike others, we see EV charging as an integral part of the entire power and energy system and solve its problem from the perspective of the large scale system.
Our long-term vision is to build a future with a clean and low-cost energy system that seamlessly integrates renewable energy sources, energy storage, and zero-emission vehicles. If you share the same vision, let’s charge toward this future together.