How Companies and Authorities Should Keep Up With EV Movements

Our society’s on-demand mindset, combined with the COVID-19 pandemic, has only increased consumer demand for commodities. As the EV industry grows and expands, industries are scrambling to adapt in order to ensure they have the appropriate infrastructure to meet the needs of their customers.

Up-Front Vehicle and Charging Support Costs

EV prices are continuing to decline. Meanwhile, the upfront cost of EV charging infrastructure, as well as the financial cost of most EVs on the market today, remain a barrier to EV purchases.

A new light-duty car costs just over $31,000 on average, but equivalent EVs cost more than $40,000 before relevant tax incentives. Medium and heavy-duty EVs are likewise more expensive to buy than their conventional counterparts.

What most people don’t realize is that EVs have a lower overall cost of ownership than standard vehicles. This is attributed to decreased fuel and maintenance expenses, which have the potential to result in large savings for the rural population.

Still, the initial purchase price, particularly for low-income individuals, can be a real barrier. Furthermore, because many consumers aren’t used to calculating the total cost of ownership when they buy a vehicle, they may consider the cost of owning an EV to be costlier over time.

Limited Infrastructure Availability

While home, workplace, and fleet-based chargers are predicted to be the main approaches for EV drivers to recharge their vehicles, the demand for greater community fast charging continues to climb as the number of EVs grows.

Consumers are also worried about the duration it takes to charge an electric vehicle, as well as the relative security and convenience of charging stations. Decreased battery performance and EV range throughout the winter months are an additional source of concern for rural areas in colder regions.

Installing public EV charging stations along rural travel lines and at key rural destinations can assist to address these worries. A program like this will also provide drivers confidence that they will be able to recharge their vehicles where and when they need to.

Utility Upgrades

To satisfy the demands of larger and quicker charging installations, the electrical-service wire running to a facility may need to be upgraded. Alternatively, it may be necessary to improve specific components of the regional power distribution system.

Many cities have leveraged their purchasing power to stimulate the market by including electric vehicles in public transportation systems. Some municipalities are putting charging stations in public buildings and providing EV owners with reduced electricity costs from municipally operated utilities.

From the standpoint of the industry, there is enough demand for EV charging stations to be deployed across the country. Solar Car Energy, as the primary electrical contractor for business and industrial installations, has been implementing new EV infrastructure for a variety of enterprises and industries.

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