Glossary

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Alternating current (AC): A current that flows in both directions. Alternating current electricity is the type used on the grid and in most household devices.

Battery electric vehicle (BEV): A vehicle that uses only an electric engine.

Direct current (DC): A current that flows in one direction. Direct current electricity is what solar panels produce and what batteries hold in storage. When AC power transmission is practically not possible or feasible over long distances, then DC power is used (e.g. sub-sea high voltage DC transmission lines).

Hybrid electric vehicle (HEV): A vehicle that combines a combustion engine with an electric engine. It uses primarily the combustion engine and has the electric engine to flatten out the mode of driving.

Ionity: A joint venture of Daimler AG, Ford Motor Company, BMW Group and the Volkswagen Group with Porsche and Audi.

Peak load: The maximum of electricity demand. Also known as peak demand.

Plug-in hybrid vehicle (PHEV): A vehicle that combines a combustion engine with a large rechargeable battery and an electric motor. It primarily uses the electric motor and has the combustion engine typically as a range extender.

Powerwall: Stationary energy storage products with a rechargeable lithium-ion battery, manufactured by Tesla.

Solid-state batteries: A battery technology that uses solid electrodes and electrolytes instead of polymer or liquid.

Spot market: A public financial market where financial commodities or instruments are traded for immediate delivery.