Increasing demand and adoption of electric vehicles in the US over the next decade will create revenue opportunities for utilities that are willing to invest in expanding grid capacity, and incorporate EV charging services, according to a new study the by Boston Consulting Group (BCG).
Whilst the study assumes a significant increase in consumer demand for EVs, it estimates that 20% to 30% of all new vehicle sales in the US will be electric or hybrid-powered. 2018 saw EVs account for just 2% of total US car sales.
BCG further estimates that 12% of all vehicles on US roads will be electric or hybrid by 2030, stretching “the capacity of the current grid” at certain times of day, or in lesser-served areas.
The authors suggest that utilities should consider expanding their offerings, and examine charging services that offer flat fees, using a subscription-based, or similar system. Another suggestion is to offer customers a free home charger that automatically charges a vehicle during off-peak demand periods.
Further suggestions include offering consulting services and energy management or fleet management software solutions to both consumer and fleet customers.
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