Charging Station Development in Conjunction with Smart Grid Technology Adoption Ensures Benefits of Plug-In Electric Vehicles are Maximized
A new slide-based report from Navigant Research examines the U.S. market for electric vehicle (EV) charging services, with a focus on technology and policy trends, customer adoption, utility deployments, and the vendor landscape, including cost curve projections and adoption forecasts, through 2025.During the first five years of the North American plug-in EV (PEV) market, sales were concentrated in U.S. West Coast, but the appeal is expanding, particularly for a group of eight Northeastern states, as automakers stress deployments to comply with the region’s mandates for PEV production.
This is expected to broaden technological appeal to more diverse socioeconomic classes and geographies, while demand for charging services is expected to result in the need for increased infrastructure in the public sphere, in multi-unit dwellings, and at workplaces. Click to tweet: According to a new report from @NavigantRSRCH, charging station development across multiple environments (public, workplace, and residential) alongside smart grid technology adoption ensures the benefits of PEVs can be maximized.“The mobile and flexible aspects of PEV load can be used to benefit utility business models if utilities approach charging service program development holistically,” says Scott Shepard, senior research analyst with Navigant Research. “Comprehensive charging services and smart grid technologies allow utilities to manipulate load to suit various utility initiatives that may include renewables integration or peak load management among others.”
Utilities in growing PEV markets are preparing for the increased load that transportation electrification presents, according to the report. While approaches vary by utility business model and respective regulatory structures, utilities are generally moving toward encouraging PEV market development and/or managing load to benefit grid operations.This report, Electric Vehicle Charging Impacts, analyzes the U.S. market for EV charging services. The report focuses on technology and policy trends, customer adoption, utility deployments, and the vendor landscape. Cost curve projections and adoption forecasts are provided through 2025. Featuring Navigant Research’s Utility Technology Disruption Matrix and Execution Grid, the report also examines implications for traditional utility business models, provides utility case studies, and offers strategic recommendations for industry stakeholders to position for long-term success.