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
Shop EV chargers today
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Content: Upfront cost
Electric vehicles currently available tend to be more expensive than internal combustion engine (ICE) vehicles. There are electric vehicle incentives available to help decrease this upfront cost, but even with federal and local tax credits, you’ll likely pay more initially to purchase an electric car. Fortunately, despite the upfront costs switching to an electric car can help you save money in the long run due to lower operating costs. Electric cars also have fewer maintenance requirements throughout their lifetime than conventional vehicles. As time goes on, the prices of electric vehicles are expected to fall. BNEF estimates that battery costs will decrease by two-thirds by 2030. Eventually, electric cars may be less expensive to manufacture than traditional gasoline-powered vehicles. Time to charge
Another obstacle to widespread EV adoption is the amount of time it takes to charge these vehicles. If you pull into a gas station and are running on empty, you can fill up and be on your way in five minutes. With electric cars, it’s another story – if you’re looking for a full charge, it can take anywhere from 20 minutes to 10 hours to charge up.