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North American Electrification of Transportation—Investment, Forecast to 2024
North American Electrification of Transportation—Investment, Forecast to 2024
Opportunities to Modernize the Electric Grid and Address the Challenges of Rapid EV Penetration
RELEASE DATE
28-Aug-2018
28-Aug-2018
REGION
North America
North America
Deliverable Type
Market Research
Market Research
Research Code: K2A0-01-00-00-00
SKU: EG01913-NA-MR_22258
$4,950.00
Special Price $3,712.50 save 25 %
In stock
SKU
EG01913-NA-MR_22258
Description
The North American Electric Vehicle (EV) market has seen significant growth over the last 5 years, both in the US and Canada. Currently, new EVs sold in the North American market account for 1.4% of the total passenger vehicles sold. There is an anticipation that downward prices for batteries and vehicles, along with improved infrastructure will accelerate the adoption of electric vehicles. This is further being pushed by state- and city-level commitments to clean energy and response to climate change.
Current projections suggest that EVs are expected to reach price parity with internal combustion engine vehicles by 2025. This will roughly translate to 8% of new cars registered to be EVs by 2024, which is equivalent to 0.8 million EVs in North America. Preparations are taking place both at a local government/city, regional, and utility levels for accommodating this trend. In the short-to-mid run, the emphasis is on introducing new policies and evaluating the current grid infrastructure to determine the best approach for minimizing grid disruption. In the longer term, these entities are discussing and evaluating how EVs can be leveraged on for improving the integration of renewables and future smart city level applications.
This positive development is, in return, generating new opportunities for advancing existing Transmission and Distribution (T&D) offerings such as demand-side management, asset management, smart transformers, as well as introducing completely new approaches for successfully integrating EV infrastructure. Much work lies ahead for the industry. However, priorities and approaches are region-specific, based on existing clean energy policies and penetration of EVs.
Research Scope
The scope of the study predominantly focuses on utilities and elaborates their initiatives and programs targeted at mitigating the impacts of increased electricity load as a result of a growing EV fleet in the region. Forecast estimates of product markets have been provided until 2024, supporting a select number of strategies that utilities are adopting. The geographical scope of the study includes only North America.
Research Highlights
The key objective of this research study is to analyze and understand how the growth in EVs will impact the grid infrastructure and utilities and the key strategies they use to address these impacts.
Key Issues Addressed
- What is the energy demand requirement due to the addition of EV? What will be the impact on the grid?
- What are the different strategies required to overcome this?
- What is the current and the future penetration and what are the trends in the electric vehicle market in North America?
- What are the top growth opportunities for the utilities involved in the EV ecosystem?
- What are the investment trends of the stakeholders in the EV space?
- What are the implications on the value chain and how are they expected to react?
RESEARCH: INFOGRAPHIC
This infographic presents a brief overview of the research, and highlights the key topics discussed in it.Click image to view it in full size
Table of Contents
Introduction to Electrification of Transportation
Product Scope and Definitions
Electrification of Transportation—Key Elements
Market Engineering Measurements—Grid Infrastructure Investments
Market Engineering Measurements—Utility Revenues
CEO’s Perspective
Key Takeaways
Regional Policies for Clean Energy Dictates High EV Penetration Rates
California—Market Leader in EV Penetration
Hawaii—The First State to Announce Goals for Carbon Neutrality
Washington—Utilities Lack Sustainable Business Plan
Oregon—Lacks EV Charging Infrastructure Despite High EV Penetration
Other Notable Regions—Demand Supported and Driven by Tax Credits
Utilities are in Three Different Stages for EV Integration—A Vast Majority are in the Emerging Stage
Utility Stages for EV Integration
Utilities—EV Programs
Notable Utility Programs in California
Notable Utility Programs in New York
Notable Utility Programs in Hawaii
Key Stakeholders for EV Electrification
EV Charger OEMs
Distribution System OEMs
Smart Meter OEMs
DR Service Providers
EV Asset Management Service Providers
Generation Systems and Emerging Technologies—Peer to peer, eWallet, and Renewable Integration
Lack of Inter-department Coordination
Customers’ Lack of Knowledge About Utility Programs and Tax Credits
Lack of Interoperability of EV Chargers
Lack of Support from Homeowner Association
Excessive Peak Load
Overload of Local Distribution Transformers
Market Engineering Measurements
Grid Infrastructure Investment Forecast
Market Engineering Measurements
Utility Initiatives—Revenue Forecast from EV Demand
Grid Resilience Ensured Through Demand Side Management (DSM)
Aggregating Demand Response with EV Charging
Enhancing Charging Capabilities through Smart Meters
Optimize Site Location to Reduce Congestion
Integrating Renewable Energy to Smart Charging Initiatives
Distribution Grid Upgrades
Distribution Grid Upgrades—Smart Transformers
Implementing Vehicle-to-Grid (V2G) Solutions
Peak Demand Shaving with Energy Storage Solution
Adoption of Internet of Things (IoT)
Growth Opportunity 1—EV Charging-as-a-Service (EV-CAAS)
Strategic Imperatives for Success and Growth
The Last Word
Legal Disclaimer
EV Fleet Penetration—North America
EV Fleet Penetration—Key Trends
EV Charging Infrastructure—United States
EV Charging Infrastructure—Canada
Charging Infrastructure Projects
North American EV Charging Infrastructure—Key Trends
Electricity Demand Forecast—US
Generation Potential Versus Demand Forecast
EV Charging Infrastructure Protocols
List of Companies in “Others”
List of Exhibits
List of Figures- 1. Total EV Market: State Wise EV Density, US, 2017
- 2. Total EOT Market: EV Grid Infrastructure Investment—Market Engineering Measurements, North America, 2017
- 3. Total EOT Market: Utility Revenue from EV Demand—Market Engineering Measurements, North America, 2017
- 4. Smart Charging with V2G Trials & Pilots, United States, 2017
- 5. EV Charging Infrastructure, United States, 2017
- 6. EV Charging Infrastructure, Canada, 2017
- 7. Analysis of Charging Technologies for EV's: Ultra-fast Charging Projects, US, 2017
- 8. EV Charging Protocols, North America, 2017
List of Charts- 1. Total EOT Market: EV Grid Infrastructure Investment—Market Engineering Measurements, North America, 2017
- 2. Total EOT Market: Utility Revenue from EV Demand—Market Engineering Measurements, North America, 2017
- 3. EV Integration Stage, North America, 2017–2024
- 4. Total EOT Market: EV Stakeholder Participation, North America, 2017
- 5. Total EOT Market: EV Grid Infrastructure Investments Forecast, North America, 2017–2024
- 6. Total EOT Market: Utility Revenue Forecast from EV Demand, North America, 2017–2024
- 7. Smart Transformer Market: Revenue Forecast, North America, 2017–2022
- 8. Total EV Market: Percent Breakdown by EV Type, North America, 2017
- 9. Total EV Market: Percent Breakdown by Companies, North America, 2017
- 10. Total EV Market: Historical Annual EV Sales and EV Penetration, North America, 2012–2017
- 11. Breakdown of Charging Types, US, 2017
- 12. Breakdown of Charging Types, Canada, 2017
- 13. Comparison of EV Electricity Demand and EV Fleet, US, 2017–2040
- 14. Percentage of EV Electricity Demand Versus Total Electricity Demand, US, 2017–2040
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Popular Topics
The North American Electric Vehicle (EV) market has seen significant growth over the last 5 years, both in the US and Canada. Currently, new EVs sold in the North American market account for 1.4% of the total passenger vehicles sold. There is an anticipation that downward prices for batteries and vehicles, along with improved infrastructure will accelerate the adoption of electric vehicles. This is further being pushed by state- and city-level commitments to clean energy and response to climate change.
Current projections suggest that EVs are expected to reach price parity with internal combustion engine vehicles by 2025. This will roughly translate to 8% of new cars registered to be EVs by 2024, which is equivalent to 0.8 million EVs in North America. Preparations are taking place both at a local government/city, regional, and utility levels for accommodating this trend. In the short-to-mid run, the emphasis is on introducing new policies and evaluating the current grid infrastructure to determine the best approach for minimizing grid disruption. In the longer term, these entities are discussing and evaluating how EVs can be leveraged on for improving the integration of renewables and future smart city level applications.
This positive development is, in return, generating new opportunities for advancing existing Transmission and Distribution (T&D) offerings such as demand-side management, asset management, smart transformers, as well as introducing completely new approaches for successfully integrating EV infrastructure. Much work lies ahead for the industry. However, priorities and approaches are region-specific, based on existing clean energy policies and penetration of EVs.--BEGIN PROMO--
Research Scope
The scope of the study predominantly focuses on utilities and elaborates their initiatives and programs targeted at mitigating the impacts of increased electricity load as a result of a growing EV fleet in the region. Forecast estima
| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Table of Contents | | Executive Summary~ || Introduction to Electrification of Transportation~ || Product Scope and Definitions~ || Electrification of Transportation—Key Elements~ || Market Engineering Measurements—Grid Infrastructure Investments~ || Market Engineering Measurements—Utility Revenues~ || CEO’s Perspective~ || Key Takeaways~ | Regional Trends and Policies~ || Regional Policies for Clean Energy Dictates High EV Penetration Rates~ || California—Market Leader in EV Penetration~ || Hawaii—The First State to Announce Goals for Carbon Neutrality~ || Washington—Utilities Lack Sustainable Business Plan~ || Oregon—Lacks EV Charging Infrastructure Despite High EV Penetration~ || Other Notable Regions—Demand Supported and Driven by Tax Credits~ | The Role of Utilities~ || Utilities are in Three Different Stages for EV Integration—A Vast Majority are in the Emerging Stage~ || Utility Stages for EV Integration~ || Utilities—EV Programs~ || Notable Utility Programs in California~ || Notable Utility Programs in New York~ || Notable Utility Programs in Hawaii~ | Industry Stakeholder Analysis~ || Key Stakeholders for EV Electrification~ || EV Charger OEMs~ || Distribution System OEMs~ || Smart Meter OEMs~ || DR Service Providers~ || EV Asset Management Service Providers~ || Generation Systems and Emerging Technologies—Peer to peer, eWallet, and Renewable Integration~ | Industry Challenges~ || Lack of Inter-department Coordination~ || Customers’ Lack of Knowledge About Utility Programs and Tax Credits~ || Lack of Interoperability of EV Chargers~ || Lack of Support from Homeowner Association~ || Excessive Peak Load~ || Overload of Local Distribution Transformers~ | Market Forecast~ || Market Engineering Measurements~ || Grid Infrastructure Investment Forecast~ || Market Engineering Measurements~ || Utility Initiatives—Revenue Forecast from EV Demand~ | Utility Offerings~ || Grid Resilience Ensured Through Demand Side Management (DSM)~ || Aggregating Demand Response with EV Charging~ || Enhancing Charging Capabilities through Smart Meters~ || Optimize Site Location to Reduce Congestion~ || Integrating Renewable Energy to Smart Charging Initiatives~ | Grid Operation Improvements~ || Distribution Grid Upgrades~ || Distribution Grid Upgrades—Smart Transformers~ || Implementing Vehicle-to-Grid (V2G) Solutions~ || Peak Demand Shaving with Energy Storage Solution~ || Adoption of Internet of Things (IoT)~ | Growth Opportunities~ || Growth Opportunity 1—EV Charging-as-a-Service (EV-CAAS)~ || Strategic Imperatives for Success and Growth~ | Last Word~ || The Last Word~ || Legal Disclaimer~ | Appendix—EV and EV Charging Infrastructure: North America~ || EV Fleet Penetration—North America~ || EV Fleet Penetration—Key Trends~ || EV Charging Infrastructure—United States~ || EV Charging Infrastructure—Canada~ || Charging Infrastructure Projects~ || North American EV Charging Infrastructure—Key Trends~ | Appendix—Impact of EVs on Electricity Demand~ || Electricity Demand Forecast—US~ || Generation Potential Versus Demand Forecast~ | Appendix—EV and Open Standards~ || EV Charging Infrastructure Protocols~ || List of Companies in “Others”~ || List of Exhibits~ |
| List of Charts and Figures | 1. Total EV Market: State Wise EV Density, US, 2017~ 2. Total EOT Market: EV Grid Infrastructure Investment—Market Engineering Measurements, North America, 2017~ 3. Total EOT Market: Utility Revenue from EV Demand—Market Engineering Measurements, North America, 2017~ 4. Smart Charging with V2G Trials & Pilots, United States, 2017 ~ 5. EV Charging Infrastructure, United States, 2017~ 6. EV Charging Infrastructure, Canada, 2017~ 7. Analysis of Charging Technologies for EV's: Ultra-fast Charging Projects, US, 2017~ 8. EV Charging Protocols, North America, 2017 ~| 1. Total EOT Market: EV Grid Infrastructure Investment—Market Engineering Measurements, North America, 2017~ 2. Total EOT Market: Utility Revenue from EV Demand—Market Engineering Measurements, North America, 2017~ 3. EV Integration Stage, North America, 2017–2024~ 4. Total EOT Market: EV Stakeholder Participation, North America, 2017~ 5. Total EOT Market: EV Grid Infrastructure Investments Forecast, North America, 2017–2024~ 6. Total EOT Market: Utility Revenue Forecast from EV Demand, North America, 2017–2024~ 7. Smart Transformer Market: Revenue Forecast, North America, 2017–2022~ 8. Total EV Market: Percent Breakdown by EV Type, North America, 2017~ 9. Total EV Market: Percent Breakdown by Companies, North America, 2017~ 10. Total EV Market: Historical Annual EV Sales and EV Penetration, North America, 2012–2017~ 11. Breakdown of Charging Types, US, 2017~ 12. Breakdown of Charging Types, Canada, 2017~ 13. Comparison of EV Electricity Demand and EV Fleet, US, 2017–2040 ~ 14. Percentage of EV Electricity Demand Versus Total Electricity Demand, US, 2017–2040 ~ |
| Author | Naren Pasupalati |
| Industries | Energy |
| WIP Number | K2A0-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9301-A4,9597,9852 |