EEI-IEI Forecasts 7 Million Plug-In Electric Vehicles By 2025

The Edison Electric Institute (EEI) and the Institute for Electric Innovation (IEI) released a new report, Plug-in Electric Vehicle Sales Forecast Through 2025 and the Charging Infrastructure Required, which projects more than 7 million plug-in electric vehicles (PEVs) will be on U.S. roads by 2025. The report also assesses the charging infrastructure necessary to support this growth, projecting an estimated 5 million charging ports will be needed.

Today, the majority of PEV charging occurs at home. However, as PEVs become more common, customers will expect to have the ability to charge their vehicles at work and at public places. The report finds that an estimated 2.2 million of the 5 million charging ports will be developed as away-from-home charging stations, and highlights the PEV infrastructure development efforts already underway in several states.

“America’s electric companies are leading efforts to advance the electrification of the transportation sector, and these companies are well-positioned to develop the charging infrastructure we need to support 7 million PEVs by 2025,” said EEI President Tom Kuhn. “Electric transportation is a win-win, meeting customer needs while also supporting America’s energy security and sustainability.”

PEV sales are expected to represent 7 percent of all vehicle sales by 2025, with PEVs projected to make up 3 percent of all vehicles (cars and light trucks) registered in the United States.

Developing charging ports and the accompanying infrastructure requires significant investment, which includes the cost of the equipment itself, installation costs, permits, and inspections. The electric power industry already is pursuing innovative solutions to help develop PEV charging infrastructure and to plan for the smart integration of PEVs into the energy grid.        IEF

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