The Edison Electric Institute (EEI) and the Institute for Electric Innovation (IEI) released yesterday a new report that projected over 7 million plug-in EVs (PEV) will be on US roads by 2025. The report, titled "Plug-in Electric Vehicle Sales Forecast Through 2025 and the Charging Infrastructure Required," assessed an estimated 5 million charging ports will be needed to support that growth.
The majority of PEV charging today occurs at home, but as PEV become more common, customers will expect to have the ability to charge their vehicles at work and at public places. The report found an estimated 2.2 million of the 5 million charging ports will be developed as away-from-home charging stations – and highlighted the PEV infrastructure development efforts already underway in several states.
"America's electric companies are leading efforts to advance the electrification of the transportation sector, and these companies are well-positioned to develop the charging infrastructure we need to support 7 million PEVs by 2025," said EEI President Tom Kuhn in prepared remarks. "Electric transportation is a win-win, meeting customer needs while also supporting America's energy security and sustainability."
PEV sales are expected to represent 7% of all vehicle sales by 2025, with PEV projected to make up 3% of all vehicles – including cars and light trucks – registered in the US.
Developing charging ports and the accompanying infrastructure requires significant investment, which includes the cost of the equipment itself, installation costs, permits and inspections, EEI said. The power industry already is pursuing innovative solutions to help develop PEV charging infrastructure and to plan for the smart integration of PEV into the energy grid, it added.
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