New report: Returns on EV infrastructure investment far outweigh costs

A new analysis from the nonprofit organization Ceres and M.J. Bradley & Associates finds that the benefits of increased investment in EV charging infrastructure outweigh the costs by more than 3 to 1.

Accelerating Investment in Electric Vehicle Charging Infrastructure” evaluates the need for charging infrastructure – including both private and public chargers – in 12 of the largest utility service territories in 7 US states.

In these utilities’ territories, which include 42 million residential customers and 80 million vehicles, an infrastructure investment of $17.6 billion would yield benefits of $58 billion by 2035, the analysis found. Moreover, after 2035 annual net benefits will increase faster than additional investments, so the cumulative net benefits will continue to increase over time.

The report recommends various pro-EV policies, including: vehicle purchase incentives; rebates, grants and tax credits for both private and public charging infrastructure; and utility-based programs such as consumer outreach and education, special charging rates and investment in charging infrastructure.

“The benefits of transportation electrification would be shared by EV owners, electric utility customers, and society at large,” said Dan Bakal, Director of Electric Vehicles at Ceres. “Utilities are in a unique position to help build awareness among their customers. They are also well situated to significantly reduce the financial risk to charging station developers – especially in the short term as the PEV market develops – by providing special rate structures for commercial charging stations.”

“Properly designed PEV market incentives can advance diverse state and local policy goals at the same time – including energy independence and security, climate change mitigation, air quality improvement, and local economic development,” said Michael Bradley, President of M.J. Bradley & Associates. “State and local policymakers should prioritize these policies and programs in the near term to aid in the transformation of the transportation sector.”

 

Source: Ceres

 

  • http://nextgenfastchargenetworks.blogspot.com/ Brandon

    Great! And we certainly need reliable high power fast charge infrastructure like Tesla has already virtually nationwide!!

  • Will Smidt

    Tesla’s charging is not where the focus needs to be…U.S. based connector standards serve much larger portions of the EV marketplace…going forward ALL public charging should be based on this standard to serve the MAJORITY…NOT the privileged MINORITY ! Elon made the choice to do his own thing for connectors. An equal priority is serving the Multi-unit Dwelling residents…who constitute a SIGNIFICANT portion of the population…who presently cannot even consider these vehicles as an option without charging access at home.

    • Oveta

      People install Tesla Wall Connectors in multi-unit residences all of the time. Condos, Townhomes and Apartments are all looking to add Tesla and SAE charging at most new builds and retrofitting their current buildings and parking garages using ChargePoint stations that can charge any vehicle.

    • dogphlap dogphlap

      Tesla chose to design their own connector because no-one else had a suitable high power connector at the time. Other car manufacturers could have adopted that connector for free but chose not to, that’s hardly Tesla’s fault. Outside of North America and Japan Tesla fit a Type 2 connector which is the European standard (China is a special case). So we have the mess that is J1772, Type 2, CHAdeMO and CCS but that is hardly the fault of Tesla. You can charge a Tesla from any AC power point e.g. 110V (single phase), 220V (2 phase), 240V (single phase), 415V (3 phase) and adaptors are available for charging from J1772 and CHAdeMO (DC fast charging) but not CCS (at least not yet). If the EV you buy does not support those that is not Tesla’s fault.

  • http://forthmobility.org/ Forth

    Further evidence that utility investments in transportation electrification yield benefits for everyone – including customers who do NOT own EVs!