Title: How is Increasing Electric Car Demand Impacting Utilities? | EnergySage
Headings: Demand for electric cars and utility response
Demand for electric cars and utility response
Growing demand for EVs
Obstacles to electric car adoption
Upfront cost
Time to charge
Driving range
Utility investments in an EV future
Eversource: $45 million investment in EV charging
Southern California Edison: Charge Ready pilot program
American Electric Power Ohio: $10 million in rebates and incentives
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Content: How is Increasing Electric Car Demand Impacting Utilities? | EnergySage
Demand for electric cars and utility response
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Reading Time: 4 minutes
Demand for electric cars is growing by the day. The International Energy Agency (IEA) forecasts that by 2030, there will be 125 million electric vehicles (EVs) on the road. There are a few key drivers behind the transition to electric-powered transportation. One of these drivers is an uptick EV infrastructure investments. As demand for electric vehicles continues to grow, utilities across the country are playing a vital role in making these investments and expanding the adoption of EVs. Growing demand for EVs
The popularity of EVs is growing around the world. In 2017, China had the largest EV market, where EVs accounted for 2.2 percent of new cars sold in the country. In addition, Bloomberg New Energy Finance’s (BNEF’s) forecasts that EV sales in China will account for approximately half of the global market by 2025 in their 2018 Electric Vehicle Outlook.