50 utility companies spread all over the US are coming together to build a network of electric vehicle charging stations along the US highways. The new coalition, which is dubbed The New National Electric Highway Coalition, was first announced by the Edison Electric Institute. The institute is owned by several power companies in the US.
The new coalition is hoping to use its vast experience to fill the infrastructure "gaps" in major travel corridors as far as EV charging is concerned. According to the new plan, each member who is part of the coalition will commit in “good faith” to invest in creating a network of EV charging stations across all the jurisdictions or areas that it operates.
The aim is to make sure that these commitments have been actualized as we head into 2023. As of now, the US needs nearly 100,000 fast-charging stations. The US EV market is growing fast and it is expected that there will be over 22 million electrical vehicles on US roads by 2030.
This creates a huge demand for fast-charging stations and it will take the effort of utility companies to get the gap filled. Right now, it is estimated that the US has roughly around 1.8 million EVs on the road.
There are also about 46,000 public charging stations in the country. But according to the US Department of Energy, only about 5,600 of these stations offer the fast-charging option. These are normally charging stations that can charge the battery of an EV for up to 80% in less than an hour. There is therefore a real need to build more fast-charging stations as the anticipated increase in the number of EV vehicles will push demand over the roof.
Besides, many policymakers feel that creating a vast network of fast charges is the key to accelerating the adoption of EVs in the US. Finding fast charging spots has always been one of the key concerns among consumers who are hesitant about switching to EVs.
But based on this commitment by US utility companies, it seems like things are going to change quite fast in the coming months. Besides, the Biden administration has set ambitious targets in electric transport.
The administration is hoping that half of all new passenger vehicles sold in the US by 2030 will be fully electric or hybrids. Although this seems like a very lofty goal to achieve, having the right charging infrastructure to support such wide-scale adoption of EVs could be a game-changer. The administration is also going to invest $7.5 billion in building EV charging stations as part of the new infrastructure bill.
This funding could provide an opportunity for public-private partnerships, especially for utilities that want to be part of the government’s EV transformation. Besides, many experts feel that bringing in the private sector could help build these charging networks faster than expected. Also, utilities already have a vast knowledge of grid capacities and what is needed to get things going.
