The transition to EVs is well underway with more than one million EVs currently on U.S. roads as of October 2018. A new report by Edison Electric Institute (EEI) and the Institute for Electric Innovation (IEI), Electric Vehicle Sales Forecast and the Charging Infrastructure Required Through 2030, projects that the next one million EVs will be on U.S. roads in less than three years – by early 2021.
The report also finds that the number of EVs on U.S. roads is projected to reach more than 18 million in 2030.
“The future of electric transportation is evolving rapidly, with more than one million EVs on our nation’s roads,” said EEI President Tom Kuhn.
“The one million EV milestone could not have been reached without partnerships and collaboration among all stakeholders including electric companies, automakers, environmental organizations, infrastructure providers, regulators, and policymakers,” Kuhn added. “EEI’s member companies have invested more than $1 billion in customer programs and projects to deploy charging infrastructure and to accelerate electric transportation, and we fully expect that number to continue to rise.”
Additional highlights from the EEI/IEI report:
- The number of EVs on U.S. roads is projected to reach 18.7 million in 2030, up from 1 million at the end of 2018. This is about 7% of the 259 million vehicles (cars and light trucks) expected to be on U.S. roads in 2030.
- Annual sales of EVs will exceed 3.5 million vehicles in 2030, reaching more than 20% of annual vehicle sales in 2030. Compared to the prior forecast released in 2017, EV sales are estimated to be 1.4 million in 2025 versus 1.2 million.
- About 9.6 million charge ports will be required to support 18.7 million EVs in 2030. This represents a significant investment in EV charging infrastructure.
Electrifying transportation offers numerous benefits for customers and communities, including increased efficiency, improved sustainability, economic growth, and energy security. Automakers are responding to customer demand and are developing more EV models, including both plug-in hybrid electric vehicles and battery-powered electric vehicles that are increasingly cost-competitive with internal combustion engines.
In addition, customers are purchasing EVs in record numbers, and electric companies are working with stakeholders to move the EV infrastructure market forward.
With more than 18 million EVs anticipated to be on the road in the United States in 2030 and with every EV owner expecting to be able to charge his or her car at home, on the street, at the office, at shopping locations, or along major highways, targeted deployment of charging infrastructure and coordinated collaboration among all stakeholders are required.
Electric company participation in the development of EV charging infrastructure supports state-level clean energy and transportation goals, expands customer choice, and helps to scale and ensure the availability of needed EV charging infrastructure to support the growing number of EVs on U.S. roads.
The Edison Electric Institute will host an event that brings together automakers, electric company leaders, infrastructure providers, environmental organizations, customers, policymakers, and others to mark the milestone of one million electric vehicles (EVs) now on U.S. roads and to discuss what’s ahead for electric transportation at The Newseum in Washington, D.C.
About 20 speakers from all parts of the EV ecosystem will provide remarks throughout the event. Discussion topics will include the electric company role; how automakers are moving the EV market forward; transit, technology, and transportation infrastructure; the role of policymakers, regulators, and environmental groups; fleet electrification; and industry initiatives to support EV deployment.