Electric vehicles (EVs) are becoming more popular yearly as they offer many benefits over conventional vehicles, such as lower running costs, better performance, and zero tailpipe emissions.
According to the International Energy Agency (IEA), global electric car sales reached 10 million in 2020, a 43% increase from 2019.
One of the most critical factors that can influence EV adoption is the availability and accessibility of public charging stations. EV charging networks provide EV drivers and potential buyers convenience, reliability, and confidence. In this blog post, we will explore how public EV charging stations can play a key role in accelerating EV adoption and what the current trends and developments are in this sector.
How Public Charging Stations Can Boost EV Adoption
With public EV charging stations, EV drivers can plug in their vehicles and recharge their batteries using electricity from an external source. They can be located using the provider’s mobile application in various places, such as parking lots, shopping malls, highways, workplaces, or public buildings.
Public EV charging stations can have different power output and charging speed levels, depending on the charger’s and battery’s type and capacity. Public EV charging stations have a positive impact on EV adoption by offering the following benefits:
Convenience
Public charging stations provide convenience to EV drivers who need to recharge their vehicles during long trips or when they cannot access home or workplace charging. They can also reduce the waiting time and increase the availability of charging options for EV drivers.
Accessibility
Public charging stations can increase the accessibility of EVs to consumers who do not have reliable access to home or workplace charging, such as those who live in apartments, condos, or rural areas.
They can also expand the potential market for EVs by attracting new customers who may be hesitant to buy an EV due to range anxiety or lack of charging infrastructure. For example, a study by McKinsey found that increasing the density of public fast chargers by 20% could increase EV sales by 6%.
Reliability
Public charging stations can enhance the reliability of EVs by ensuring that drivers can always find a place to recharge their vehicles when needed. They can also improve EV drivers’ customer satisfaction and loyalty by providing a consistent, high-quality charging experience. For example, a survey by Deloitte found that 57% of consumers cited a lack of public charging stations as the top concern for buying an EV.
Current Trends And Developments In Public Charging Stations
The demand for public charging stations is rising along with the growth of EV sales. According to the IEA, there were 2.7 million public charging points worldwide in 2020, with over 900,000 installed in 2020 alone.
Governments, automakers, utilities, and private companies have invested heavily in developing and deploying public charging infrastructure across various regions and markets to address this gap. Some of the current trends and developments in this sector are:
Policy Support
Many governments provide policy support for public charging infrastructure development through regulations, incentives, standards, and targets. For example, the Canadian government has targeted achieving 100% zero-emission vehicle market share for new light-duty vehicle sales by 2035 and has supported deploying thousands of EV charging stations across Canada since 2016.
According to a recent study commissioned by Natural Resources Canada, Canada will need around 200,000 publicly accessible chargers by 2030 to support the expected 145 million electric cars on the road.
Technology Innovation
Many innovators are developing new technologies and solutions to improve public chargers’ performance, efficiency, and affordability. For example, some companies are working on wireless or induction charging systems that can charge EVs without plugging in cables. Others are exploring vehicle-to-grid (V2G) technologies enabling EVs to feed electricity back to the grid when unused.
Also Read: The Future Of Mobility: Exploring The Growth Of Electric Vehicle Charging Stations
Business Models
Many players are experimenting with different business models and strategies to create value and revenue from public charging stations. For example, some companies are offering subscription or membership plans, allowing EV drivers to access a network of chargers for a fixed fee. Others are partnering with retailers, restaurants, or hotels to offer charging services to attract and retain customers.
About EVlution
Evlution Charge is a leading provider of smart and innovative charging solutions for electric vehicles. We offer a range of products and services that cater to the needs of EV drivers, fleet operators, property owners, and businesses. Our mission is to make EV charging easy, convenient, and affordable. Learn more about us here.
Contact us today to join a passionate EV charging network.