This Utility Dive brief looks at the rapidly expanding EV market and the charging infrastructure to support its accelerating growth. AEE’s perspective is included, quoting Matt Stanberry, vice president of market development at Advanced Energy Economy. Link to full article here.
Electric vehicle (EV) sales are expected to represent 28% of global light-duty vehicle sales sometime shortly after 2025, growing faster than initially thought, according to Bloomberg New Energy Finance.
The development is reflected in a number of company strategies. Last week, ChargePoint announced will develop 2.5 million EV "charging spots" by 2025, up from its current 54,000, in response to the growth in EV adoption…
Last year the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) published an extensive look at what it would take to support 15 million plug-in vehicles. It came up with about 600,000 non-residential Level 2 plugs and 8,500 DC Fast Charging stations.
Range anxiety is seen as one obstacle to mass market adoption of EVs, but as battery duration improves experts say charging infrastructure may have to scale up rapidly. By 2040, BNEF believes electric vehicles will make up 55% of light-duty vehicle sales and represent 33% of the total car fleet worldwide…
While states are working to develop charging infrastructure they are also having to learn as they go along, Matt Stanberry, vice president of market development at Advanced Energy Economy, told Utility Dive.
"There are a number of regulatory and market issues that need to be addressed to enable the ability of the industry to meet the mass market," Stanberry said. "PUCs are wrestling with what are the right roles for third party charging companies like ChargePoint and utilities."
North America will have 12 million residential charging points and 1.2 million public charging points installed by 2030, according to an August estimate by GTM Research. Worldwide, that number could hit 40 million, the firm said.
"Charging infrastructure requirements that will be necessary to enable mass market adoption will require expansion beyond any individual company," Stanberry said.
See the complete Utility Dive story here.