North American Electrification of Transportation Investment Forecast to 2024 - Opportunities to Modernize the Electric Grid and Address the Challenges of Rapid EV Penetration

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Sep 21, 2018, 10:30 ET

DUBLIN, Sept. 21, 2018 /PRNewswire/ --

The "North American Electrification of Transportation - Investment, Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The North American Electric Vehicle (EV) market has seen significant growth over the last 5 years, both in the US and Canada.

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.

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 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?

Key Topics Covered:

1. EXECUTIVE SUMMARY

Introduction to Electrification of Transportation
Product Scope and Definitions
Electrification of Transportation - Key Elements
Key Questions this Study will Answer
Market Engineering Measurements - Grid Infrastructure Investments
Market Engineering Measurements - Utility Revenues
CEO's Perspective
Key Takeaways

2. 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

3. 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

4. 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

5. 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

6. MARKET FORECAST

Market Engineering Measurements
Grid Infrastructure Investment Forecast
Grid Infrastructure Investment Forecast Discussion
Market Engineering Measurements
Utility Initiatives - Revenue Forecast from EV Demand
Utility Initiatives - Revenue Forecast from EV Demand Discussion

7. 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

8. 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)

9. GROWTH OPPORTUNITIES

Growth Opportunity 1 - EV Charging-as-a-Service (EV-CAAS)
Strategic Imperatives for Success and Growth

10. LAST WORD

11. 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

12. APPENDIX - IMPACT OF EVS ON ELECTRICITY DEMAND

Electricity Demand Forecast - US
Generation Potential Versus Demand Forecast
Electricity Impact Discussion

13. APPENDIX - EV AND OPEN STANDARDS

EV Charging Infrastructure Protocols
List of Companies in Others
List of Exhibits

For more information about this report visit https://www.researchandmarkets.com/research/wg62b7/north_american?w=5

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