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Spotted: Electricity prices have soared since 2021, with a variety of factors pushing up costs and causing general volatility in the market. Countries with a heavier reliance on renewable energy sources generally saw smaller increases, whereas those still dependent largely on fossil fuels tended to experience sporadic spikes in prices. Now, Estonian smart energy company Gridio has a way to reduce costs while encouraging the use of electric vehicles. 

The Gridio app tracks energy prices and automatically charges connected vehicles when prices are lowest and when the electricity is coming from renewable sources. An algorithm monitors national prices and supplies, automatically charging at the most efficient times. Users set their account to complete charging by a certain time, and the artificial intelligence (AI) identifies the best way to charge within those parameters.

The app currently works with eight brands of EV, with the company planning to add more as soon as possible. Free to use, car owners decide on two modes within the app – active all the time or active after a certain hour. The app can also connect to, track, and use solar power, so users with solar arrays can charge their vehicle from their own renewable energy source. The Smart Charging setting in the app can be turned off any time to enable a particularly quick charge.

Infrastructure challenges have meant that charging networks are not nearly as developed as EVs themselves. Innovators are seeking to overcome this challenge in a number of different ways, including through the use of an algorithm that helps city planners choose charging station locations, and a portable charger that can provide 20 to 40 miles of driving range.  

Written By: Keely Khoury