The North American Electric Vehicle (EV) market has seen significant growth over the last 5 years, both in the US and Canada. Currently, new EVs sold in the North American market account for 1.4% of the total passenger vehicles sold. There is an anticipation that downward prices for batteries and vehicles, along with improved infrastructure will accelerate the adoption of electric vehicles. This is further being pushed by state- and city-level commitments to clean energy and response to climate change.
Current projections suggest that EVs are expected to reach price parity with internal combustion engine vehicles by 2025. This will roughly translate to 8% of new cars registered to be EVs by 2024, which is equivalent to 0.8 million EVs in North America. Preparations are taking place both at a local government/city, regional, and utility levels for accommodating this trend. In the short-to-mid run, the emphasis is on introducing new policies and evaluating the current grid infrastructure to determine the best approach for minimizing grid disruption. In the longer term, these entities are discussing and evaluating how EVs can be leveraged on for improving the integration of renewables and future smart city level applications.
This positive development is, in return, generating new opportunities for advancing existing Transmission and Distribution (T&D) offerings such as demand-side management, asset management, smart transformers, as well as introducing completely new approaches for successfully integrating EV infrastructure. Much work lies ahead for the industry. However, priorities and approaches are region-specific, based on existing clean energy policies and penetration of EVs.
The scope of the study predominantly focuses on utilities and elaborates their initiatives and programs targeted at mitigating the impacts of increased electricity load as a result of a growing EV fleet in the region. Forecast estimates of product markets have been provided until 2024, supporting a select number of strategies that utilities are adopting. The geographical scope of the study includes only North America.
The key objective of this research study is to analyze and understand how the growth in EVs will impact the grid infrastructure and utilities and the key strategies they use to address these impacts.
Key Issues Addressed
- What is the energy demand requirement due to the addition of EV? What will be the impact on the grid?
- What are the different strategies required to overcome this?
- What is the current and the future penetration and what are the trends in the electric vehicle market in North America?
- What are the top growth opportunities for the utilities involved in the EV ecosystem?
- What are the investment trends of the stakeholders in the EV space?
- What are the implications on the value chain and how are they expected to react?
1. EXECUTIVE SUMMARY
- Introduction to Electrification of Transportation
- Product Scope and Definitions
- Electrification of Transportation - Key Elements
- Key Questions this Study will Answer
- Market Engineering Measurements - Grid Infrastructure Investments
- Market Engineering Measurements - Utility Revenues
- CEO’s Perspective
- Key Takeaways
2. REGIONAL TRENDS AND POLICIES
- Regional Policies for Clean Energy Dictates High EV Penetration Rates
- California - Market Leader in EV Penetration
- Hawaii - The First State to Announce Goals for Carbon Neutrality
- Washington - Utilities Lack Sustainable Business Plan
- Oregon - Lacks EV Charging Infrastructure Despite High EV Penetration
- Other Notable Regions - Demand Supported and Driven by Tax Credits
3. THE ROLE OF UTILITIES
- Utilities are in Three Different Stages for EV Integration - A Vast Majority are in the Emerging Stage
- Utility Stages for EV Integration
- Utilities - EV Programs
- Notable Utility Programs in California
- Notable Utility Programs in New York
- Notable Utility Programs in Hawaii
4. INDUSTRY STAKEHOLDER ANALYSIS
- Key Stakeholders for EV Electrification
- EV Charger OEMs
- Distribution System OEMs
- Smart Meter OEMs
- DR Service Providers
- EV Asset Management Service Providers
- Generation Systems and Emerging Technologies - Peer to peer, eWallet, and Renewable Integration
5. INDUSTRY CHALLENGES
- Lack of Inter-department Coordination
- Customers’ Lack of Knowledge About Utility Programs and Tax Credits
- Lack of Interoperability of EV Chargers
- Lack of Support from Homeowner Association
- Excessive Peak Load
- Overload of Local Distribution Transformers
6. MARKET FORECAST
- Market Engineering Measurements
- Grid Infrastructure Investment Forecast
- Grid Infrastructure Investment Forecast Discussion
- Market Engineering Measurements
- Utility Initiatives - Revenue Forecast from EV Demand
- Utility Initiatives - Revenue Forecast from EV Demand Discussion
7. UTILITY OFFERINGS
- Grid Resilience Ensured Through Demand Side Management (DSM)
- Aggregating Demand Response with EV Charging
- Enhancing Charging Capabilities through Smart Meters
- Optimize Site Location to Reduce Congestion
- Integrating Renewable Energy to Smart Charging Initiatives
8. GRID OPERATION IMPROVEMENTS
- Distribution Grid Upgrades
- Distribution Grid Upgrades - Smart Transformers
- Implementing Vehicle-to-Grid (V2G) Solutions
- Peak Demand Shaving with Energy Storage Solution
- Adoption of Internet of Things (IoT)
9. GROWTH OPPORTUNITIES
- Growth Opportunity 1 - EV Charging-as-a-Service (EV-CAAS)
- Strategic Imperatives for Success and Growth
10. LAST WORD
11. APPENDIX - EV AND EV CHARGING INFRASTRUCTURE: NORTH AMERICA
- EV Fleet Penetration - North America
- EV Fleet Penetration - Key Trends
- EV Charging Infrastructure - United States
- EV Charging Infrastructure - Canada
- Charging Infrastructure Projects
- North American EV Charging Infrastructure - Key Trends
12. APPENDIX - IMPACT OF EVS ON ELECTRICITY DEMAND
- Electricity Demand Forecast - US
- Generation Potential Versus Demand Forecast
- Electricity Impact Discussion
13. APPENDIX - EV AND OPEN STANDARDS
- EV Charging Infrastructure Protocols
- List of Companies in “Others”
- List of Exhibits