The future will be electric. There’s no debating that every automotive company in the world is transitioning towards electric vehicles. The only question now remains, how long will it take to fully happen? There is plenty of data and projections out there but the simple answer is, not as long as you might think.
According to Statista.com, the electric vehicle market is expected to jump from 1.2% in 2018 to 7.6% market share by 2026. That’s a huge jump for any industry, especially one as solidified as motor vehicles. But an even bigger market share is expected to come over the next two decades as, according to Bloomberg New Energy Finance, electric cars could make up 57% of all passenger car sales worldwide.
With already 1.18 million electric vehicles on the roads, the electric future is well on its way. But what about the present? Well, it’s not just statistics and energy experts that are expecting an uptick in electric vehicles.
Right here in Detroit, big changes are in the works. General Motors is still on track to meet its goal of 20 new battery-electric vehicles into products by 2023 while Ford Motor Company recently invested $1 billion into Corktown Detroit and the infamous Michigan Central Station to create an electric vehicle and technology hub in the Motor City.
The state of Michigan is getting a political boost as well from two of its representatives.
Rep. Andy Levin is teaming up with fellow Democrat (NY) Rep. Alexandria Ocasio-Cortez to introduce the new Electric Vehicle Freedom Act, which would require the Energy and Transportation departments to create a network of high-speed charging stations along the public roads of the national highway system within five years. This would help EV drivers while making long-distance road trips, as most gas stations and rest stops are still lacking Charging Stations.
As for a little closer to home, Rep. Debbie Dingell is helping push along a House bill, called the USA Electrify Forward Act, that would spend $2 billion annually to encourage the development and adoption of electric vehicles. This bill would also help encourage the installation of charging stations at residential and commercial buildings by updating building codes.
Adding EV Charging Stations to residential and commercial buildings is going to be critical. The heavy majority of electric vehicle owners charge their cars at their homes or workplace, which means Network-Free stations are the way to go. These stations do not require individual payments for every charging session.
Residents and employees will begin to expect EV Charging Stations in their parking lots and garages. As will the owners of those properties and companies as energy companies have begun issuing rebates to business and residential unit owners who have installed Charging Stations at their properties. That includes two Michigan companies, Consumers Energy and DTE, who have issued out around 800 rebates in 2020 already, and are planning on much more to come:
“We’re confident that 2020 will be a milestone year for electric vehicles in Michigan as businesses and residents install charging stations with help from Consumers Energy’s PowerMIDrive Program” – Brian Rich, Consumers Energy’s Sr. Vice President for Customer Experience
Michigan is far from the only state looking to push the country forward on electric vehicles.
Wisconsin’s 12th District Ald. Syed Abbas introduced a new ordinance in Madison to help streamline the process for businesses and residences building an electric charging facility by preventing developers from having to jump through hoops.
There’s also another national program in the works as ChargePoint has partnered with the National Association of Truck Stop Owners (NATSO) to launch a new $1 billion initiative to add electric vehicle charging to deploy DC fast charging and Level 2 EV chargers at more than 4,000 NATSO member locations, travel stops, and fueling locations across the country. This will help speed up the charging process and open the door for more electric trucks to hit the road.
Electric vehicles are the future and are becoming more and more relevant in the present. Make sure your businesses and residences are ready for the growing change by contacting Ideal Shield today so you can learn more about adding Electric Vehicle Charging Stations to your properties.