Electric vehicles (EVs) have the potential to reshape the transportation sector globally, drastically cutting carbon emissions and clearing the way for significant climate progress. Despite the roaring success of EVs, adequate charging infrastructure is lagging behind. Many EV owners charge their cars at home using a wall-mounted charger. This arrangement works for most current owners because the average EV use is well within the range of today’s EVs. However, two major difficulties arise.
First, for drivers who live in apartments or do not have a driveway, parking garages are rarely equipped with charging infrastructure, and installing such infrastructure may be cost-prohibitive for building managers. Second, an expanded charging infrastructure is needed for EVs to make long-distance trips that require multiple stops for charging. When it comes to longer trips, EV owners can experience “range anxiety,” the fear that the car will run out of power before reaching a suitable (and functioning) charging station. Hence, building a robust public “fuelling” network of charging stations is the key to a successful EV market. At home, followed by the workplace, remains the most favourable location for EV charging. This means that the market for public charging stations is in DC fast charging targeted at on-the-go, cross-country (long-range) driving, and in emergencies.
It is a classic chicken-versus-egg scenario. Do public charging stations help drive EV adoption, or does greater EV adoption demand a more comprehensive public charging infrastructure? In what has been equivalent to a land grab, some charging providers are competing for space at libraries, museums, parks, retailers, municipal parking garages, and anywhere else that is willing to install a station. Stakeholders need to abandon the current model of using public funds and grants to install stations.
Historically, such large projects have tended to be unprofitable due to high upfront costs; electric car use will need to become more widespread before they can turn a profit. The ideal end state is a sustainable, market-driven industry. It will never reach that status unless it unlocks a real value proposition as uncovered in the new report “Charging Infrastructure for Electric Vehicles and Fleets 2022-2032” by IDTechEx.