With Pending New Investments in Charging Infrastructure, the Report Provides Insights Regarding Where Chargers Should Optimally be Installed
ALEXANDRIA, Va., Aug. 23, 2022 /PRNewswire/ — Fuels Institute’s Electric Vehicle Council announced today the release of its newest report, “EV Charger Deployment Optimization: An Analysis of U.S. State-level Electric Vehicle Supply Equipment Demand Forecast and Supporting Infrastructure Considerations”. The report, which was written by S&P Global Mobility, was designed to help the market and government determine how to best support the expansion of the EV market with the strategic installation of charging stations.
“The market for electric vehicles (EVs) continues to grow at an accelerating pace, yet there remains great uncertainty regarding how fast these vehicles will gain significant market share, how many chargers we will need, when and where we will need them, and what kind of chargers will be required in different locations,” states John Eichberger, Executive Director of Fuels Institute. “Recognizing that billions of dollars would be invested in building out EV charging infrastructure, we commissioned S&P Global Mobility to model what the demand for EV chargers might look like over the next 10 years throughout the United States. This report helps prioritize where those funds should be deployed to most effectively leverage business and taxpayer dollars as well as to deliver the greatest value to drivers.”
Among the key findings in the report:
- The report forecasts EV adoption nationally to reach almost 6% of vehicles in operation by 2030. If accurate, to satisfy an optimal vehicle to charger ratio of about 10:1, the U.S. will need as many as 1.7 million charging stations, of which more than 90% could be strategically deployed Level 2 chargers.
- EV adoption rates vary greatly by state, with 82% of all EVs in 2021 registered in just 15 states. By 2030, this concentration is forecast to remain high with the top 15 states hosting 76% of all EVs.
- Given the diversity of population, market conditions, and travel patterns, there is no one-size-fits-all solution across the U.S. The report leverages a census track market analysis to prioritize EV charger deployment by state.
- To assist with strategic planning and analysis, the report presents three case studies detailing the benefits of market-specific insights when considering EV deployment plans. Cities profiled include Detroit, MI; Dallas, TX; and Portland, OR.
About Fuels Institute
The Fuels Institute, founded by NACS in 2013, is a non-profit research-oriented think tank that evaluates market issues related to vehicles and the fuels that power them, incorporating the perspective of diverse stakeholders to develop and publish peer-reviewed, comprehensive, fact-based research projects. The Fuels Institute is a non-biased organization that does not advocate.
Contact:
Marjorie Kass
[email protected]
SOURCE Fuels Institute
