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: 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. 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.