There are nearly 500,000 plug-in electric vehicles (EV) on U.S. roads today. Almost every car manufacturer offers an electric vehicle with over 14 models to choose from and more on the way. The cost of EVs is declining, while the range on a full charge is rapidly increasing. Tesla and Chevy plan on introducing new models with a range of over 200 miles at a cost of around $35,000 or less by 2018. Bloomberg New Energy Finance estimates that by 2022, the total cost of EVs will reach parity with their internal combustion counterparts. That’s likely to be the point of “lift off” for EV sales.
Download the MCR Point of View to learn more about opportunities for utilities to enter the EV market (and the associated challenges) and how utilities can develop EV strategies that align with corporate goals.