U.S. must increase EV charging stations 8x by 2030 to cope with demand — S&P Global

There are not nearly enough charging plug-ins in the U.S. to support the surge of electric vehicles.

Over the past few years, the infrastructure for charging has expanded quickly, but not as quickly as the nation has reached its tipping point. By 2025, the United States will need to triple its current charging infrastructure because 5% of all new car sales were electric in 2017. By 2030, it will need to increase by more than 8X, according to S&P Global.

The United States currently has 20,431 Level 3 charging stations, which take 15-20 minutes to reach an 80% charge, and around 126,500 Level 2 charging stations, which takes up more than five hours to fully charge. On the other hand, there are about 16,822 Tesla superchargers and destination charges available. The majority of these chargers were recently installed last year.

In 2025, there may be up to 7.8 million EVs on the road, requiring the installation of 700,000 Level 2 and 70,000 Level 3 chargers.

Since nearly every major automaker is investing billions in new technology, models, and manufacturing, the absence of charging infrastructure is a concern.

For those in the industry, charging hasn’t generated much money so far. It frequently requires expensive, labor-intensive, and complicated electrical and construction work.

It’s unknown who is responsible for the maintenance of the infrastructure after installation. Choosing the ideal locations for charging in advance is essential, but it’s also critical to give lower-income neighborhoods that have been overlooked in the EV push priority.

The Biden Administration has allocated $7.5 billion for charging build-out and aims for a national network of 500,000 public charging stations by 2030.  Which may change as it gains momentum.

Did you enjoy this article? Please share your thoughts, comments, or questions regarding this topic by connecting with us at newsroom@cbtnews.com.