Utility Investments and Consumer Costs of Electric Vehicle Charging Infrastructure
- EV infrastructure costs about $5,100 per EV, over an average 10-year on-the-road lifetime.
- Total investments could amount to $35–$146 billion by 2030, depending on EVs on the road.
- If these costs were borne solely by EV owners, each owner would have to pay more than $500 a year per EV or $9 every time they completely charge their 75-kWh battery vehicle.
- Many utilities and EV advocates want to socialize these costs, meaning all electric utility customers pay more while only EV owners reap the benefits.
A study released by the Energy Marketers of America focuses on the costs of electric vehicle (EV) charging infrastructure to support policy-driven increases in the number of EVs on U.S. roads. Specifically, this study finds that a rapid buildout of an EV charging infrastructure, looking just at new distribution and transmission investments to support EVs making up only 10% of the vehicles on the road in the U.S., could cost as much as $146 billion. Further, if this buildout is funded by the utilities, these costs would be passed along to their customers through rate increases, regardless of whether they own EVs.
To view the study, click here.