CHARGING FORWARD

In the ongoing EV revolution, SPATCO keeps the batteries running

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Electric vehicles are here to stay.

Enthusiastic consumers are boosting sales, OEMs are continuing to invest in EV technology, and market gurus see plenty of growth. This year, J.D. Power expects EV retail share growth to reach 9.1% of the total automobile marketplace, or a total of 1.2 million vehicles sold. Their forecast calls for that number to rise to 26% by 2030. As the demand increases, so does the need for reliable, cost-effective, and safe EV charging infrastructure.

Executive orders have frozen federal funds for electric vehicle charging stations made available through the National Electric Vehicle Infrastructure Formula Program (NEVI) and the Charging and Fueling Infrastructure Discretionary Grant Program. Over the years commercialization of EV technology has greatly reduced the need for government dollars, but the appearance of broad market vulnerability has the potential to stall decision-making for businesses considering charging station investments.

“From an infrastructure consumer standpoint, it does affect their mindset and the behaviors,” explained Miguel Payan, Vice President and General Manager of EV Solutions for SPATCO Energy Solutions. “The pause in funding drives a big impact in the way customers think about the timing of their investment. ‘Do I invest now? If I do, I'm not going to get subsidies like I used to before. So maybe I wait. Or maybe I just don't make the investment at all.’”

Some states and many utilities still have incentives, and in Payan's view, those will continue even if the federal government pulls out of the market completely. “Even without grants from the federal government, we still need charging infrastructure because the OEMs are selling EVs. Consumers like you and I are now seeing parity of price between EV and gas vehicles, and they will continue to be sold.”