Modern Electric Vehicle Rate Design Options
Electric vehicle (EV) sales increased dramatically in 2022, with more than 750,000 new all-electric cars registered in the United States – a 55% increase over 2021 sales. Although forecasts vary widely, many analysts expect strong acceleration in EV adoption. Some analysts forecast EVs could represent 50% of total U.S. passenger car sales by 2030.
If growth rates to 2030 are even close to those projected, electric distribution systems will face massive challenges as most are not equipped to handle the increased load. One effective action utilities can take is to design tariffs to manage the charging load, fairly recover costs, and empower customers with flexible rate alternatives. To better understand these pricing solutions, we identified and analyzed several modern EV rate designs and explored how to implement them.
This white paper is Part 2 of the series, “Is Your EV Strategy Ready – Yet?