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
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Southern California Edison: Charge Ready pilot program
American Electric Power Ohio: $10 million in rebates and incentives
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Content: 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. BNEF also estimates that in 2025, Europe will account for the next largest EV market share (14 percent), followed by the United States (11 percent). By 2040, they estimate that EVs will have a 55 percent global market share with new car sales. While there’s no doubt that demand for EVs is growing, the rate at which this demand grows is hindered by the upfront cost of EVs, charging technology, and availability of public, EV infrastructure. Obstacles to electric car adoption
EVs aren’t a new technology – in fact, they’ve been around since the mid-19th century. Despite this, there are some disadvantages to electric vehicles that are inhibiting widespread adoption.