Full Title: Electric Vehicle Sales and the Charging Infrastructure Required Through 2030
Author(s): Charles Satterfield and Kellen Schefter
Publisher(s): Edison Electric Institute
Publication Date: June 7, 2022
Full Text: Download Resource
Description (excerpt):
Customers continue to purchase EVs in record numbers, and electric companies are working with stakeholders to make the transition to EVs a seamless one for all drivers. Automakers are continuing to respond to customer demand by developing more EV models, including both plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs), that are increasingly cost-competitive with their internal combustion engine (ICE) counterparts.
The Infrastructure Investment and Jobs Act (IIJA) is critical to the continued acceleration of EVs. IIJA is the largest investment in infrastructure since the New Deal, and it contains several provisions for electric transportation including up to $7.5 billion in funding for EV charging infrastructure, $5 billion for electric school buses, and $5.6 billion for electric transit buses. The lack of charging infrastructure often is cited as a primary barrier to increased adoption of EVs and the funding from IIJA will represent unprecedented EV charging investment in many areas of the country, which is fundamental to the growth of the market.
Unlike conventional vehicles, which typically refuel only at gas stations, EVs may charge at many different locations, such as while parked at home, at work, or in public spaces, using various types of charging equipment, which often is referred to as a charging station or a charging port. The data provided in this paper is forecasted through 2030 and details new insights into the coming wave of EV sales and the infrastructure needed to support the projected EV growth.