Utility Association Foresees ‘Quadruple Win’ in Electric Vehicle Adoption
Electric vehicles are a “quadruple win” for utilities seeking to increase electricity demand, build different kinds of relationships with customers, show stronger support for environmental objectives, and reduce their own operating costs, according to the Edison Electric Institute (EEI), the industry’s main trade body. “Thus far, utilities have had a conflicted relationship with electric vehicles,” Lacey writes. “Although sales continue to grow, consumer demand has been relatively low compared to initial estimates. That has prevented power companies from investing heavily in charging infrastructure.” But with virtually no growth in retail demand for electricity, and distributed solar cutting into their markets, “today’s electric utilities need a new source of load growth—one that fits within the political, economic, and social environment,” an EEI report states.