US Charging Networks: Reinventing the Wheel, How Could we Skip an Evolutionary Step?

Introduction

If you're a charging network operator in the United States of America, a remarkable opportunity awaits you. The conditions are prime: a burgeoning market, ample funding together with a trove of insights from the experiences of other countries. However, until now, a clear path to seize this opportunity has remained elusive. In the article below we'll unveil how you can swiftly and strategically position yourself ahead of the curve

Charge network operators in the United States find themselves at a pivotal crossroads with a rare opportunity to surpass their competitors as the electric vehicle market continues to evolve. The US remains the third-largest EV market, commanding an 8% sales share in all vehicle sales. The demand for reliable charging infrastructure is increasingly evident as the popularity of EVs soars. By 2030, the nation will require 2.3 million public chargers, yet as of May 2023, there were just over 130,000, highlighting the substantial gap that needs to be bridged within the next seven years. To break that down a little thats 310,000 a year or 26,000 a month or nearly 1,000 a day!

Creating an extensive and accessible charging network extends beyond DC fast charging; AC chargers for residential and public locations are equally essential. A blended network is the key to meeting the diverse needs of EV users while ensuring the stability of the grid. You can delve into this topic in more detail in our previous article, "Is the Answer to Public EV Charging AC or DC?"

The good news is that both State and Federal governments are recognizing the importance of EV charging infrastructure. Numerous financial incentives, such as the Inflation Reduction Act (IRA) signed just over a year ago, are designed to promote private sector investment. However, today's success in the EV charging industry hinges on flawless execution, involving not only adding more charging stations but creating networks at scale and accuracy.

Learnings from Europe: Take What Works, Don't Repeat the Same Mistakes

One way to achieve flawless execution is by learning from the experiences of other countries that are further along the adoption curve, particularly Europe and China.

Europe's EV journey offers valuable insights. It's crucial to establish an extensive and dependable charging infrastructure while addressing range anxiety without neglecting charger anxiety—a challenge Europe has grappled with. Following Europe's lead, the US should continue to implement government incentives to stimulate EV adoption. Collaboration among various stakeholders has been pivotal in Europe's success and should be encouraged in the US. Additionally, the US can avoid certain pitfalls by paying attention to the financial viability of charging networks and ensuring social inclusion. More insights can be found in our previous article, "EV Charging Infrastructure: How the US can Learn from Europe's Mistakes?"

China has efficiently promoted EV adoption by heavily subsidizing EVs, building more affordable vehicles and investing significantly in charging infrastructure, primarily focusing on fast charging. Nevertheless, the US still has room to make timely strides in the right direction, emphasizing a blended network.

How to skip an Evolutionary Step Leapfrogging the Competition?

In the fiercely competitive landscape of US charging network operators, securing the future requires leaving behind the past. Our cutting-edge technology represents the quantum leap needed to propel American charging networks into a bold new era.

Designed to meet the demands of more mature European players who are 18-24 months ahead of the US, our technology empowers you to make precise location choices for tomorrow, enabling your business to thrive in the rapidly evolving EV market. With hundreds of data points at a micro level, we enable charging network operators to make laser-focused assessments of site suitability, consistently achieving an impressive average of 8.4/10 great sites compared to the industry average of less than 4/10.

Our AI-powered models, equipped with hundreds of parameters, allowing you you to plan a netowrk whilst supporting your micro decisions, ensuring parking bay level accuracy. This integration allows our customers to operate at scale, envisioning not just hundreds but thousands and tens of thousands of charging sites across a wider geography. Our data-driven and AI-powered technology optimizes efficiency, enabling our clients to grow their networks significantly faster, averaging a remarkable 110% year-over-year growth compared to the market average of 52%.

Find Us at the MOVE America 2023 Show!

Reach out to us today to discover how our software can propel you ahead of the competition. We'll be exhibiting at the MOVE America show in Austin TX on September 26th and 27th, 2023. Visit our stand S28, arrange a meeting with one of the Team, or catch our presentation at the Move America Show at Mapping and GIS, Theatre 3 on September 27 @ 12.10pm

If you won't be attending the Move America show, contact us today to schedule a product demo and witness how our software can meet your needs.

Link to the full the full IDTechEX article can be found here