EV Charging Stations In The Future
One of the biggest hindrances to a more widespread adoption of electric vehicles in the United States is the perceived and real difficulties in locating charging stations. Tesla has spent a significant amount of time and effort as well as funds in order to create a private network of supercharging stations that will ultimately boost the sales of their vehicles because of a widely accessible charging network. Tesla has figured out methods which will decrease the charging time of their vehicles significantly over what is expected at the current time. This hindrance to the remainder of the electric vehicle market has caused a slow adoption of these types of vehicles in the United States, and although there is a push from both environmentalists as well as government agencies to encourage the adoption of electric vehicles to reduce carbon emissions, we still face a profitability issue. In order for private industry to roll out expanded installations of electric vehicle charging stations, there needs to be more electric vehicles on the road. The lack of available charging stations has hindered the electric vehicles that are being made from going over the current 2% of the market. This has created a vicious circle that will need government intervention in order to move forward. That intervention may just come in the form of the proposed two trillion dollar infrastructure bill that has been introduced by President Joe Biden’s administration. With the adoption of this program, Biden believes that there can be more than 500,000 electric vehicle charging stations installed throughout the United States by 2030. This effort will require significant cooperation from the private sector, who can project profitability within the industry, as well from tax incentives and grants to help build out this charging infrastructure. The cost of the level–three charging station can be between $120,000 and $260,000 installed, and even though it is projected that these fast chargers will be able to deliver an 80% capacity within 10 minutes, the high cost of both their installation and operation has created a slow roll out as well as hindered development of the technology. Through the public and private sector cooperation, it is projected that the electric vehicle market will be able to significantly increase as well as provide profitability for the companies involved. There are currently around 41,400 charging stations in the United States, and fewer than 5000 of them are fast chargers. When compared to the 136,400 gas stations, the issue regarding private businesses expanding their footprints to include charging stations is clear. Until more electric vehicles are put on the road, the mainstream businesses involved in providing the charges will move forward very slowly.
Through the reduction of operating costs, the incentive of profitability is greater. It has been shown that the integration of technologically advanced surge protection devices throughout the electric vehicle charging station footprint can significantly reduce operational costs through avoidance of damage as a result of electrical surges and lightning strikes. Raycap is leading the charge to the adoption of more charging stations in the United States.