With increased investment, new rebates, improved infrastructure and big names getting on board, EVBox predict that 2019 will be America's biggest year for EV. Read on to discover the six key factors driving the EV market forwards.
The electric vehicle (EV) market in North America is starting to hit a fever pitch, with estimates of 11,000,000 EVs on the road by 2025. Considering there were less than 500K EVs on the roads in the US in 2016, and the fact that the adoption rate is increasing exponentially year after year, it’s clear that EVs are here for the long haul.
There are lots of factors at play here. For starters, the battery range is getting much better. In 2016, a Nissan Leaf with a range of 85 miles cost $30,000. Today, you can get a Leaf with 151 miles of range for the same exact price. That’s almost twice the range at no extra cost.
But the fact that EVs are becoming more practical is only part of it. There are tons of big changes to the market happening this year alone that are sure to supercharge the adoption of electric vehicles all over America.
1. Hawaii Release Hot New Rebate
Hawaii has announced that the entire state will be running on 100% sustainable energy by the year 2045. This is largely due to the fact that, as an island, products like gasoline can become super expensive—like $4.17 a gallon expensive. I get that it’s a tropical paradise and all, but for those kinds of prices, that gas better do my taxes!
Anyway, to start Hawaii down this road to greener living and more affordable driving, utilities and organizations like Hawaii Energy and Ulupono are coming out with rebates this year to help businesses in the area install EV charging stations. So if you live in Hawaii and want to help clean up your community, this new incentive will save you $5,000 per charging station.
2. California Closes in on $1B in EVSE Funding Opportunities - And Looking at Next Billion
California already has roughly 50% of America’s EVs, and it has no plans on slowing down. Utilities, municipalities, and private organizations all across the state are investing heavily in getting more charging stations installed in underserved areas. How much?
Oh, just about...
One. Billion. Dollars.
Organizations like CALeVIP, PG&E, SCE, and many, many more are throwing down Scrooge McDuck-sized sacks of money to help give California’s EV drivers a more comprehensive network of charging stations.
What does that mean for you? Well, if you’re interested in getting EV charging stations and you live in Cali, odds are you can get them for pretty close to free. (See rebates here).
3. Electrify America Invests $200M in EV Infrastructure in CA - And $300M in Other Metros
Electrify America is already a major player in the improvement of EV infrastructure across the country, but its role is soon to make a pretty hefty leap.
Right now, their focus is on the deployment of EV charging stations in major cities and along highways. In 2019, they’ll be adding a number of new cities to their map, like Atlanta, Baltimore, Honolulu, Las Vegas, and Phoenix. Currently, these cities are not exactly “EV hot spots,” but with the help of some new charging stations, they could become the next EV mecca.
But wait! There's more.
Electrify America is also going to be releasing a massive “brand-neutral” media campaign to get Americans educated and on board with the transition to EV. Depending on the execution, a campaign of this scale could have a huge, positive impact on social awareness and seriously persuade millions of Americans to consider driving electric.
4. Port Authority of NY/NJ Invest to Electrify Bus Fleet
Buses require a lot of gas. I know, shocking, right? Turns out these giant vehicles that drive hundreds of miles a day burn through a lot of fossil fuel. Which is why the Port Authority of NY/NJ have agreed to spend $100M to invest in electrifying their bus fleet.
I know what you’re thinking—a lot of places have electric buses. Which is true. But not many bus lines service as many people as the Port Authority of NY/NJ. This organization not only manages the busiest bus terminal in North America (NY Port Authority) but also all the airports in NY/NJ (JFK, LaGuardia, Newark).
And this is just the beginning. The Port Authority of NY/NJ aims to make their entire airport shuttle fleet 100% electric, and 50% of their light-duty vehicles electric in the coming years.
I guess NYC is going to become the ..."Green" Apple!
5. Lyft Green Pilot Program
Ride-sharing is everywhere, and it comes with tons of options. Need a bigger car? Check. Want to split the ride with another group? Check. Want to get picked up in a luxury SUV? Check.
Well, now in certain cities, Lyft plans on releasing a new option for its users—the option to go green. Where available, users can try out “Lyft Green” and get picked up in EV, showing their commitment to sustainability. It also incentivizes Lyft drivers to drive electric, giving them the chance to tap into a new market and make more money per trip.
The program is only out in Seattle right now, but will expand into California and other markets soon. So keep your eyes peeled for an update on your Lyft app!
6. Automakers Invest $300B in Developing New EVs
To all the naysayers who still think electric cars are just a flash in the pan:
IN. YOUR. FACE!
Right now, automakers around the world are collectively investing $300,000,000,000 in developing new electric vehicle technology. That’s a lot of zeros to be investing into a fad!
Almost seems like the people responsible for creating all the cars on the road are pretty certain that a big change is coming to the automotive industry. Seems like the people that pioneer this entire industry feel like they need to start making EVs if they want to stay relevant. But what do they know?
Oh right—it's lots! They know lots!
So now, with all that information in your pocket, it seems pretty clear that 2019 is going to be a banner year for electric vehicles. Then again, 2020 will probably be a pretty huge too. And 2021. And 2022. You get the picture.
But, while this transition is still in its infancy, now is the perfect time to get ahead of the curve and install some charging stations on your property. Depending on where you live, you might even be able to get them for free (looking at you Hawaii—remember what I said up top?). As for other states, check out our rebate configurator and see how you could start saving on new EV charging stations today.
EVBox is the leading global manufacturer of electric vehicle charging stations and charging management software. With an installed base of over 60,000 charging points across more than 45 countries worldwide, EVBox drives sustainable mobility, by bringing durable electric vehicle charging solutions to the world. EVBox has offices in Amsterdam, Antwerp, Copenhagen, Oslo, Milton Keynes, Madrid, Munich, Paris, Bordeaux, New York and Los Angeles. Since March 2017, EVBox is a part of ENGIE.