While many are quick to crow about the “Earth-saving” benefits of electric vehicles, few have looked at the incremental demand in power necessary to meet the growing demand of the “green” vehicles. Furthermore, even fewer have looked at who could stand to benefit from the increased demand. In a new note called “The Future of Energy Demand” out this week, Goldman Sachs looked at both of these points. The note states that battery electric vehicles and plug in hybrid electric vehicles are only about 1% of the current automotive fleet, but that this is expected to rise to 13% by 2030 and 32% by 2040. And with the adoption comes an increase in energy needs. Goldman says the shift will have an “impact which adds an incremental 2.4% to our 2030 power demand forecast and 5.7% to our 2040 outlook.” When it comes to investments that will benefit from […]