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EVs will create revenue opportunities for electric utilities: Study

According to a study released by Boston Consulting on Tuesday, the demand for electric vehicles in US over the next decade will create revenue opportunities for electric utilities that invest in greater grid capacity and offer EV charging and related services.

Boston Consulting expects a significant jump in consumer demand for electric vehicles (EVs) which continue to account for only a fraction of U.S. vehicle sales, reports Reuters.

Electric or hybrid gasoline-electric vehicles will be 20 to 30 percent of all U.S. new car sales by 2030 estimates BCG. The consulting firm predicted that up to 12 percent of all vehicles on U.S. roads will be plug-in hybrid or pure electric by 2030, stretching “the capacity of the current grid” when charging in certain locations or at certain times of day.

According to the authors of the study utilities consider expanding their range of services and explore such options as subscription services that impose a flat EV charging fee while providing customers with a free home charger that automatically charges a vehicle overnight and during periods of off-peak demand.

Utilities also were urged to consider offering consulting services, as well as software solutions to both consumer and commercial customers for energy and fleet management.

Source: Reuters

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